(Newswire.net – July 04 2013) New York, NY – Now, in 2013, technical analysis is extremely popular and is used in forex, futures and stock trading everyday around the world.
There is an “Art” to becoming proficient at technical analysis and chart reading as there can be many different interpretations of the same chart. People do not always agree about what they see. For example, when people look at a painting, sculpture, ballet or hear a piece of music, they will each have there own unique perspective of the meaning of the work.
There is a great saying that Fundamental Analysts have for Tech Traders: “Traders who use technical analysis are great but I would not want my sister to marry one.” And of course, Technical Traders say the exact opposite about them: “Traders who use fundamental analysis are great but I would now want my sister to marry one.”
A trader or investor who uses charts and technical analysis indicators to analyse the markets is using technical analysis. The basic premise behind technical analysis is that bullish and bearish trends exist and price action in the markets have a tendency to repeat themselves.
Technical traders believe that by being able to identify chart patterns, see support and resistance levels and understand technical analysis indicators they will be better equipped to analyse the markets.
The main organization in the world for professional technical analysts is the “IFTA” The International Federation Of Technical Analysts.
The new ChartAttacks technical analysis blog will be a great resource for all traders and investors who want to take there technical analysis skills to a whole new level for free. There will be videos from top notch tech traders explaining the pros and cons of this type of market analysis.
The new site will get investors up to speed on the many different types of charts including bar charts, candlesticks and renko.
Once the trader has an understanding of these types of charts then it is time to delve deeper and look at the many chart patterns including: Head and Shoulders, Trend Lines, Triangles, Price Channels and how they can be used to analyse the markets.
Also, to enhance chart reading capacity a technical trader must have a solid understanding of how and when to use the many different technical analysis indicators including: Average Direction Index, Commodity Channel Index, Moving Average Convergence Divergence, Relative Strength Index, On Balance Volume, Moving Averages, Bollinger Bands, Fibonacci, Elliot Wave etc……
To learn more about the art of technical analysis please visit: http://www.Chartattacks.com
Arthor : Guy Edrington is an independent journalist and president of New World Trading Ltd.
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