While a fundamental analysis is based on the news released and commentary of the news, technical analysis is based on the technical strategy to interpret and analyze the price trends. Although the technical analysis used in the forex and equities markets are similar, they are different in the matter of time frame. In the forex market, the market is open 24 hours non-stop a day, while in the equity, the market is only open in a certain market hours.
Because of this time frame difference, some technical analysis must be modified to fit in the 24-hours of the forex market. The most used technical analysis indicators in forex are Parabolic SAR, Elliott waves, Pivot points and Fibonacci studies.
In order to get the best advantage in your trading, it is suggested to combine some of these technical indicators. Many technical analysts are combining Elliott Waves and Fibonacci studies. This is something that is worth to try. However, there are some people who create their own trading systems. In this system, they are trying to locate any possible buying and selling positions and conditions.
Bookmark/share this article with others:Because of this time frame difference, some technical analysis must be modified to fit in the 24-hours of the forex market. The most used technical analysis indicators in forex are Parabolic SAR, Elliott waves, Pivot points and Fibonacci studies.
In order to get the best advantage in your trading, it is suggested to combine some of these technical indicators. Many technical analysts are combining Elliott Waves and Fibonacci studies. This is something that is worth to try. However, there are some people who create their own trading systems. In this system, they are trying to locate any possible buying and selling positions and conditions.
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