Technical Chart Analysis in Price Action Trading Course

Description

The main concept of technical analysis is price action, Trading which is based on support and resistance candlestick chart pattern, trend market reaction, ( price rejection ) structure of the market.

Starting with what is support level at which the price does not fall as demand is enough to hold price from falling further in simple terms support the buyers area or you can also say days in demand zone. What is resistance as the term suggest it is the level at which the price does not rise. Further as the supply is enough to hold price from rising more. In simple terms, resistance is sellers area or demand zone. Support and resistance can also be dynamic. Dynamic support occurs in a resistance. You will be able to understand the buyers and sellers in the market if any candle which is fully green without any wick, the whole body is green which means it is most bullish candle which is also named as bullish Marabou, hammer, inverted, hammer, shooting, star, bullish, engulfing, bearish engulfing, bullish Harami, bearish Harami, doji and the list goes on so basically candlesticks defines the buyers and sellers in one particular time frame. The most commonly used time frame by a trader is 1 min3 minutes 5 minutes 15 minutes 30 minutes, 1 hour four hours daily timeframe, weekly timeframe and monthly timeframe based on your time period which you’re going to trade you have to choose the timeframe according to that putting down in simple terms. If you are doing intraday trading then five minutes and 15 minutes can be used. If at all you’re doing swing trading, the 1 hour four hours daily time frame and if you are long-term investor then you can look at one day weekly and monthly Chart. And most commonly trading style and technical analysis is breakout and breakdown. Trading breakout happens at resistance. Breakdown happens at Support putting down and terms what is breakout and breakdown a particular level, which is acting as a support and resistance that is getting crossed. That is the place where breakout and break down happens.

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