ForexGen USD/CHF

This last trade is the USD/CHF.

The first chart is a 30 – minute chart.
There are some interesting things about this trade.

I have also included the channel lines as these can really help put thing in perspective.
If you look at the chart you will see that %R at 22h00 was reading
2.19, RSI at 22h30 was 77.01 and MACD was 0.00242.
This all happened in the vicinity of point A on the chart.
As you can see MACD and RSI started to turn down as expected but then the market continued up to make a slightly higher high at point B. This is called bearish divergence.

This happens when an indicator turns down but the market makes a new high.
The opposite is true for bullish divergence.

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forexgen technical indicators

Often you will see technical indicators classified into two categories: trending and non-trending (or oscillating). Practitioners divide technical indicators into these two categories because the trading signals produced by trending indicators are generally supposed to be more profitable during trending markets, and the trading signals generated by non-trending, or oscillating, indicators are supposed to be more profitable during non-trending, or flat, markets.

technical analysis for forexgen is a two-step process. First, we identify the current trend. Next, we sit back and wait until the market tells us it is a good time to jump in and take advantage of the current trend.Once you have identified the trend of the currency pair you are analyzing, you then need to identify those levels at which the trend has a high probability of stopping or reversing. To do that, you need to identify potential levels of support and resistance.

get introduced to technical analysis with forexgen

Technical Analysis Discounts Everything; Especially in Forex Minimal Rate Inconsistency There are many large players in the forex market, such as hedge funds and large banks, that all have advanced comupter systems to constantly monitor any inconsistencies between the different currency pairs.

Given these programs, it is rare to see any major inconsistency last longer than a matter of seconds. Many traders turn to forex technical analysis because it presumes that all the factors that influence a price - economic, political, social and psychological - have already been factored into the current exchange rate by the market. With so many investors and so much money exchanging hands each day, the trend and flow of capital is what becomes important, rather than attempting to identify a mispriced rate.

It is important to note that, in general, the interpretation of technical analysis remains the same regardless of the asset being monitored. There are literally hundreds of books dedicated to this field of study, but in this tutorial we will only touch on the basics of why technical analysis is such a popular tool in the forex market.

forexgen trading station provides you with this feature.