Figures of technical analysis

Figures of technical analysis

On the Forex market, and indeed in any other market, the ability to determine the formed figures is not of little importance when working with graphs. This, of course, is an element of exclusively technical analysis, and is in no way connected with the fundamental.

Conditional figures are, roughly speaking, a “drawing” that is formed on the graphics. Best of all, such drawings are visible on candle graphs or bars.

These figures are formed by drawing resistance lines and support at price levels. The resistance -support lines, as it were, bordinate the price range – and the figures are formed.

The most common figures: a triangle, a flag, a double-three-tier peak, a head and shoulders, a folding meter, a diamond and others.

Triangle – everything is quite simple here. The support line goes at an angle in one direction, and the resistance line in the other. As a result, a triangle is formed along the edges of the price peaks. He can take different forms. In which direction the price will go after leaving the triangle is an unknown. It can only be noted that the exit from the triangle is quite strong. And in most cases the breakthrough goes in the main direction of the triangle, along the nose.

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