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How does market history help in making technical analysis decision on the market?
Technical
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- John Ka...
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- 1 year ago
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Market history help in making technical analysis decision on the market because the behaviors of the market participants have the tendency to repeat it selves over time. The study into the market history will help to position the trader at the right side of the trend. |
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Looking at historical history can sometimes give you an indication of where the market is going in the future. |
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Technical analysis belives in History repeats itself in the forex market.So based on the market history technical inidicators help to analyse what happens in the future and look for the price action in the market. |
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By analyzing what happened in the past. By looking at patterns, support & resistance. Looking for key levels of where price action goes and finds a wall. |
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Traders believe that history repeat itself, as Technical analysis is study of the price movements with a purpose of predicting possible trend development. But in reality it would be correct to say that Technical analysis is the study of Market or any other financial commodity movements with the purpose of predicting possible future trend direction which is based on the history analysis. |
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The phrase, "History tends to repeat itself", can be attributed to utilizing Technical Analaysis decision making. In stable economic conditions, technical analysis is useful. In unstable times for both currencies, technical analysis become more difficult, as new highs and lows are "reset" on short term charts based on long term (historical Highs or lows) from months or even years prior. While these points are often psysological, it is a fact that large commercial traders utilize software to predict trends, which by virtue means they are utilizing technical analysis. Weighted averages that give data closest to your trade entry, tend to represent the economic theater better than, lets say 10 years ago. |
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In technical analysis, the study of market patterns and trends enable one to exploit those patterns in making decisions. For technicians, the market's price conveys relevant information in the study of future price behavior, so their analysis looks at the history of the trading pattern of a financial instrument or currency pair in making trading decisions. |
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