Technical Analysis for Forex Traders
Introduction to Technical Analysis
Bollinger Bands®... Relative Strength Index... Stochastic Oscillators... Fibonacci Retracements. If just hearing these terms fills you with trepidation, you're not alone. The good news however, is that despite their intimidating names, most technical indicators are really not that difficult to use, and it is possible for traders of any experience level to incorporate these indicators into their daily trade-decision process. In fact, with the latest generation of trading platforms fully capable of performing the necessary calculations for you, gone are the days when only mathematicians could generate accurate market charts.
In this series of lessons, you will find a no-nonsense approach to working with the most popular technical indicators. Each section includes an easy-to-understand overview of each indicator, together with relevant examples that demonstrate how to apply and interpret indicators to help you make informed decisions.
While this lesson does not require you to have any past experience with technical indicators, it does assume that you have some understanding of currency trading. If you need to brush up on your forex basics, you are encouraged to read the first book in this series - A Concise Introduction to Currency Trading.
This is for general information purposes only - Examples shown are for illustrative purposes and may not reflect current prices from OANDA. It is not investment advice or an inducement to trade. Past history is not an indication of future performance.