How to learn technical analysis

could you please help me, how to learn technical analysis?
Is there any specific way to learn?
…Thank you !

There are many, many ways to learn techicals. Any book by John Murphy is an excellent starting point. Really, though, what it comes down to is working with the methods. The variations in analytic methods and techniques can be overwhelming, but chances are you will eventually narrow things down to something that makes sense for you. Really, it’s a process of working with different things and figuring out what fits.

I agree 100% with what rhodytrader said, but i would also add that you should be careful not to get too caught up in finding a “magic” indicator or technical. Alas, we all ultimately start out looking for it anyway.

In my own experience, i think something that deserves alot of attention in the field of Technical Analysis is the study of support and resistance. This is probably the most crucial and most basic starting point when you open up a chart.

Finally, and most importantly, keep it simple. If you find your charts are getting filled up with more and more technical indicators that just “seem to make sense” then chances are you are only confusing yourself and your perception of the market.

Good luck

I agree with the previous post…remember, there is no such thing as invincible indicators… use your own trading method and practise on demo acc for at least 2 mths with positive result b4 putting ur real money in. Gd luk!

I love my $10 book, Technical Analysis for Dummies from Barbara Rockefeller.
Try some of the simple stuff in there in multiple time frames and you should have a great start. Keep it simple, and manage your cash well and I wish you the best.

You can pick up some technical analysis in - it is an educational site for traders of forex, and commodities. It’s free and I am sure you’d be able to dig out a valuable info there.

good luck!

Thank you for your valuable feedback…!
And one more question i would like to know…
5,10,15,20,…,what indicates this numbers in RSI? And how it works?
…Thank you

I will find
Thank you

Thanks for feedback

Thank you for your suggestion
And one more question i would like to know…
5,10,15,20,…,what indicates this numbers in RSI? And how it works?
…Thank you

Wait, do you have Limewire? you can get free technical analysis books if you search in the documents, the only thing is sometimes they are hard to get, just typr in all the books you think are good or just plain technical analysis. You should be able to download them in the morning, there should be enough people online.

hey there if im not mistaking in relative strenth index 70 represents an overbought market, meaning the currency is somewhat overvalued and 30 or less indicates an oversold market where the market is undervalued. Iv’e also seen 50 used as a general trend indicator another words if the rsi is above 50 u r ina bull market but if the line is below 50 then u r ina bear market. I am relativly new to forex and accually this is my first post here. Thank you all who contribute I am very grateful for the advice, encouragement, and support

I recommend picking up the book “Technical Analysis of the Financial Markets”, by John J. Murphy. It’s considered by many to be the bible on TA.

i will go through your suggestion
i will come back with some dougts again.

Thank you

Ok good boss !
Iam also like you, new to the forex.
Thanks for sharing information.

Hello people,

I am looking into investing in the technical analysis book by john murphy…but after reading reviews at amazon i realised that most of the charts are bar charts so i was wondering if teaches you any on bar charts first? as i only use candle charts and do not know much about bar charts!!

Lastly how applicable is it to the forex market as it was mainly written for stocks and futures…



Seem to be bumping into each other in & around these threads today gagan! :slight_smile:

The generics of tech analysis work across most instrument classes.

A couple guy’s have already mentioned the benefits of studying the merits of support & resistance. And that particular exercise doesn’t differentiate between bars & candles. The laws of supply & demand (s&r) work just as well with whichever type you prefer to work with.

Once you begin to form a decent understanding of the supply-demand chain, you won’t need all those flashy, fancy indicators. They’re pretty pointless anyway as they’re driven & engineered by price activity in the first place.

Do a google on support & resistance & see what you come up with. - Your Source For Investing Education This site will undoubtedly have one or two articles/items on s&r.

You could also try Martin Prings site below. There might be one or two vids or articles on there which whets the appetite.

Pring Research - Technical Analysis, Educational CDs, Financial Newsletters and Charting Tools

Learn & study all you can about this very underrated aspect of trading. The cleaner your chart the better, the main players out there rarely observe anything other than key levels & dynamic (classic) lines. You’d be surprised how often these key lines are observed, tested & activated :wink:

Recognize the likely reactive levels (lines) on your template timeframe, check the direction (trend) on your higher timeframes & always attempt to trade in harmony with the smart money!!

Hi Tess nice to see you again here;)

If by support and resistance you mean pivot point analysis…yes i do know about that…and i do use that as quite often as well…and i also believe that trendlines also help quite a bit in predicting what is going to happen next…your thoughts on this?



ps: is there any decent book on fundamentals you would recommend?

Yes i would be very grateful if you could show me as to what you mean…and yes i agree, you are fortunate to have people around you to the right way:) …thanks for your help thou…i really appreciate it.



Thanks a lot for that Tess…ill have a look into it and tell you how i go…:smiley:

thou it is amazing how it works…but i guess its only with practice ull be able to see trends like that…