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Hey! In today’s video I will show you how to analyze forex charts from scratch, and you will be able to take a chart and apply all the technical analysis tools available in a blink of an eye, without confusion and take the BEST TRADES possible.
There are a lot of information out there on how to analyze forex charts, but in this video I simplify everything for you in the most important steps to take. First of all you should go to the WEEKLY chart first! This is where the higher time frames trend actually form, and you want to take note of them to trade with them and NOT against them! It’s a sure way to get burned if you ignore what the higher time frames are doing.
Now identify the most important support and resistance levels, fibonacci retracements and extensions, and make sure to READ the candlestick language. Everything will be much easier to see by doing these, before going lower into the daily chart. Once you have a strong sense of WHO is dominant in the market, the main levels, and everything else it’s time to go to the daily chart! Once you are here, you need to look for either two entries: Daily candlestick patters, or intra day entries using MACD and RSI. You can go to my channel and watch lessons on these.
Now, in order to complement your trading knowledge, and to ensure you are pulling this strategy on the right market conditions, make sure to watch the following playlist on how to learn technical analysis:
I hope you enjoyed today’s video on how to analyze forex charts, subscribe to this channel for more and I see you in the next one!
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