Last week I wrote about the benefits of using support and resistance lines. This charting technique is easy to learn and probably one of the simplest and most useful tools when it comes to timing entry and exit points.
Now, before you shoot me down, I’m well aware of the old financial planning adage that goes: It’s not about timing the market, it’s about time in the market.
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If you've been following my Thursday Money Morning contributions over the last few weeks, you'll know we're slowly working through the important concepts in trading and technical analysis.
Last week, we covered some of the basics around risk management. If you missed it, you can find the article here.
But this week we’re tackling one of the most useful and often ignored as... ››› more
Technical analysis works very well with forex trading thanks to the strong trending market.
There are a wide number of different technical indicators you can exploit to help you profit from the forex market, but the most important ones are support and resistance.
So what exactly are support and resistance? And how can you use them in your forex trading?
Read on to find out more…
W... ››› more
Technical analysis involves using the historical price action of a share, currency or other asset to anticipate what's going to happen in the future. It all comes down to using price charts.
So what are the key concepts of technical analysis? And how can you use them to profit when you trade?
Read on to find out about two of the most important concepts…
Technical analysis concept #1:... ››› more
Technical analysis is a fantastic tool for identifying trading opportunities when trading forex.
But before you can delve into the array of different technical analysis tools, there are a couple of crucial indicators you must understand. These are support and resistance.
Let's take a closer look at why they're so important…
What are lines of support and resistance?
Lines of suppor... ››› more
When it comes to profiting from support and resistance levels when you trade forex, the first thing is identifying the higher time frame structure.
Is a currency pair making lower lows and lower highs for a downtrend? Or is it making higher highs and higher lows for an uptrend?
Let's take a look at how you can do this…
How to use support and resistance levels to your advantage
Thi... ››› more
Resistance and support form the basis of much of technical analysis. Know how to spot them and you can use them to make profitable forex trades.
So how can you find the key resistance and support levels when you trade forex?
Let's take a closer look…
How to use resistance and support when you trade forex
Resistance and support are levels where the price of a currency pair struggl... ››› more
Technical analysis can be a rather complex and daunting topic. It's vast. Some of the strategies make quantum physics look easy.
But the good news for you is, start with the most basic aspects of technical analysis and you can use it to your advantage.
One of these most basic aspects is support and resistance.
Read on to find out more…
Using support and resistance when you trade t... ››› more
If you're new to forex trading, you may feel a little overwhelmed with all the trading strategies to learn about.
Before you can understand and use any forex trading strategy, there is something that you need to know about first.
That is: Trend lines.
So what are trend lines? And how can you use them as part of your forex trading strategy?
Let's take a closer look…
What are tre... ››› more
When it comes to forex trading, there are two lines which form the basis of many forex trading strategies. These are support lines and resistance lines.
It's vital you get to grips with how these work and understand their significance.
So let's take a closer look at how these work…
The most important technical indicators
When you draw a trend line onto a chart, you’ll notice tha... ››› more
So far this week, the rand has managed to edge higher. The local currency is benefitting from easing geopolitical tensions. And jobs data out of the US gave the rand an unexpected boost.
Let's take a closer look at what's going on with the rand…
It’s been a good week for the rand
The rand is getting closer to its longstanding resistance level of 10.50 to the dollar, says Fin24. The... ››› more
Back when I was a banker, I had the unique privilege of being trusted by many wealthy executives. And one thing they all had in common was an almost uncanny ability to 'follow the money'.
In trading, that comes down to knowing how to trade strong price-action 'money flow' patterns in the charts, which I'm about to share with you.
Instantly choosing the strongest trading sign... ››› more
Pivot points are a great thing to include in your forex trading strategy.
Not only can you use them to show market trends, you can use them to help time your entry and exit from trades.
Using them to get in and out of the market can prove a profitable strategy. Let's take a closer look…
Using pivot points in your forex trading
Pivot points are basically a way to show you the average o... ››› more
When it comes to using different strategies to try and profit from your forex trading, one is a ‘breakout' strategy. This strategy uses key support or resistance levels. Read on to uncover how to use a ‘breakout' strategy to profit from forex…
One of the most basic strategies is what we call a 'breakout' strategy, Max Munroe in Forex Round-Up explains...
Basically, when price br... ››› more
One of the key elements to trading is to understand how the market moves. In theory, the market moves purely by supply and demand like any product. However, there's a certain amount of psychology involved as well. Read on to uncover the importance of support and resistance in forex trading…
The more demand for a product, the more its price increases and the more supply goes into the market, Ma... ››› more
Support and resistance levels are one of the basic principles involved with technical analysis. These levels can indicate whether a share is overbought or undersold. But how do they work? Read on to uncover the importance of support and resistance…
Support (or an area of support) exists at the price level where buyers in a particular market are prepared to buy a share, Gareth Stokes in Fear, G... ››› more
When it comes to using technical analysis, one of the basic tools you can use is trend lines. Trend lines are a great tool to try and work out market direction. Let's take a closer look at what trend lines are…
Let’s look at the general concept of a trend line, Max Munroe explains in Forex Round-Up.
Trend lines form when there is a build-up of orders at a specific level. This 'bunchin... ››› more
When volatility is very high, market direction can be quite random. But, predictable turning points occur frequently in the market and they can be very profitable. Read on to discover three technical indicators that can help you identify a market turning point…
You can use technical analysis to try and pinpoint turning points in the market, the research team at Red Hot Penny Shares explain…
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Moving averages aren't just a tool to look at market trends with, you can also use them to show support and resistance levels. This can give can give you a better idea about what price levels to buy and sell at. Let's have a closer…
Moving averages are a great technical analysis tool that can show you what way the market is trending.
They can tell you a lot about price movement and market s... ››› more
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