Key Chart Reading Indicators
One way to simplify your trading is through a trading plan that includes chart indicators and some rules on how you should use these indicators. Based on the idea that simple is best, there are four easy indicators you should familiarize yourself with using one or two at a time to identify trading entry and exit points:
RSI (Relative Strength Index)
Once you are trading on a live account, a simple plan with simple rules will be your best allies.
There are many key factors in determining the value of one currency against another currency. Many traders choose to look at charts as a simplified way to identify trading opportunities - using forex indicators to do so.
As you look at the graphics, you will notice two common market environments. Both environments encompass markets with a strong level of support and resistance that the price is not reaching or a trending market where the price is moving higher or lower.
Using technical analysis allows you as a trader to identify trend boundary environments and then find inputs or outputs most likely based on your readings.
Reading the indicators is as simple as placing them on the chart.
In an upcoming article we will delve into the indicators mentioned above.
Good Morning Continued and Good Trades!