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This article gives you a complete guide to currency technical analysis. We explain why it works, and show you how you can use technical analysis in the currency markets, to make large profits.

Many traders don’t fully comprehend the advantages of technical analysis – and scoff at it, saying that it can’t work.

We will however, show you how to use currency technical analysis the right way, to make large profits – so let’s get started.

What is Currency Technical Analysis?

It is simply defined as the study of price action through the use of charts – for the purpose of identifying price trends. It’s not a science, as many chartists claim – it’s an art, and it works! Why? Because technical analysis reflects human psychology. What about the supply and demand fundamentals, you might ask – well it takes them into statement too.

Currency technical analysis uses the following equation:

Market Perception (trader psychology) + Fundamentals = Price Action

All currency technical analysis does, is postulate that all fundamentals are swiftly reflected in price action (and in the 21st century with our advanced communications this is truer than ever) – so it simply concentrates on price action. It really is that simple!

Price action reflects all the fundamentals, and more importantly, how the participants perceive them.

Traders who study fundamentals claim that you can’t use technical analysis – because you need to know and study the fundamentals, to know where prices are going – this is simply not true! Some of the largest price moves in history, have occurred with tiny or no change in the fundamentals.

It’s a fact that markets are generally most bullish at market tops and most bearish at market bottoms – and these markets occurred with tiny or no change in the fundamentals. Human psychology was at work here – and currency technical analysis studies this, as well as fundamentals.

Learn to use technical analysis, and you will see the reality as it is – rather than listening to the views of others. Keep in mind that 90% of traders lose money – because they’re influenced by greed and fear created by the news services.

Charts grant you to see the reality – and that’s a large advantage.

Currency technical analysis makes the following assumptions:

1. Markets Discount

All fundamentals show up swiftly in the price action, when you use technical analysis. You are therefore studying the fundamentals as they are – not trying to guess their impact – and of course, you’re studying human psychology as well.

2. Trends Persist

Currency technical analysis can establish this – just get out a chart of any currency, and you’ll see long term trends – many lasting for several years.

History Repeats

The basis of currency technical analysis, is that what has happened in the past, will happen again – and that’s why it’s so effective.

Human activity repeats itself – and since price patterns reflect shifts in human psychology, we can adopt that certain patterns and trends will repeat themselves.

Your Aim

Your aim is to use technical analysis to catch, and hold the longer-term trends. Keep in mind that human activity does repeat itself – but humans can be unpredictable as well!

Keep in mind that technical analysis is an art, not a science. Be wary of theories that state they can predict with scientific accuracy – they can’t! – If they could, we’d all know the price in advance – and there’d be no market.

The good news is that by using technical analysis in the money markets, you can get the odds on your favour – and make large long-term profits.

Trade the Odds with Currency Technical Analysis

In gambling, the aim is to get the odds in your favour – and in trading, your aim should be to trade only when the odds are in your favour. You won’t win each trade – but neither can the top football players score from each kick at the goal.

By following the information outlined here, and putting in a tiny work and preparation, you could soon be painful up large long-term profits by using currency technical analysis.

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