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Technical analysis is essential for forex traders and investors, particularly Berniston traders. Technical analysis uses historical price charts and market data to detect patterns and trends to assist traders in deciding when to enter or leave transactions. How to do a thorough technical analysis before trading in FX using Berniston:
Pick Your Timeframe
Technical analysis begins with choosing a trading strategy time frame. Intraday to monthly or annual periods are available to traders. Choose a time window that matches your trading objectives and risk tolerance. For instance, day traders may favor shorter time horizons than position traders.
Find trends