Watch daily commentary and make informed trading decisions
Watch daily commentary and make informed trading decisions
Technical analysis (TA) is a type of trading analysis that relies on price data. It operates on two basic assumptions: the current price reflects all known information, and history tends to repeat itself.
This method of breaking down markets tends to attract hands-on traders. With its fast pace and at-the-moment nature, technical analysis lends itself to a number of day trading strategies, including scalping.
Rather than looking at fiscal statements, reports, or releases, technical analysts look at charts. It cares less about the why and more about the what – What’s going on right now?
Technical traders get most of their information from charts. They try to locate trends, support and resistance levels, and patterns that often appear in markets. With this, they believe they can predict where the market will move and take their trading positions accordingly.
Patterns
Patterns are repeatedly occurring chart formations. Markets often react in a specific way following a pattern, and this is what technical traders capitalise on. Some of the most common patterns are: head & shoulders, double top/bottom, and triangles. Spotting a pattern can give traders a clear course of action and help them make decisions quickly and efficiently.
Indicators
Indicators are platform tools that can help traders understand what's happening on often-busy charts. They can highlight trends and momentum, identify key thresholds, and help spot entry and exit points. The number of indicators is almost unlimited, meaning that technical traders can explore them indefinitely. Some of the most common indicators include moving averages and the relative strength index (RSI).
Support and Resistance
Support and resistance levels are price points that an asset tends to struggle to fall below (support) or rise above (resistance). Many technical concepts revolve around these levels, as an asset challenging one of these points and failing can mean a reversal, and succeeding can mean a continuation. Identifying these levels is also crucial for accurately spotting patterns.
Trendlines and Channels
Trendlines follow price highs or lows to show the direction of an instrument's movement, creating a visual boundary for the trend. Channels are parallel lines that contain the total price action. Technical traders often focus on these lines, reacting when the price hits one of the lines.
All trading involves risk. It is possible to lose all your capital.
All trading involves risk.
It is possible to lose all your capital.
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