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- https://www.ifcmarkets.com/en/ntx-indicators/key-concepts Basic Concepts
The Basic Concepts of Forex Technical Analysis
For making technical analysis in Forex market, traders should understand and use such terms as trend, channel, support and resistance levels. Using the information obtained from the charts, it is possible to identify the best moments for the position entry and exit, recognize and predict when there will be trend fracture or its continuation in time.
Fibonacci levels are considered to be important and effective tools of technical analysis for determining the possible levels of trend reversal. By taking them into account the trader can determine the strong support and resistance levels, as well as the possible targets of correction and continuation trends.