can I apply this lessons on stocks?
Yes, for the most part TA is the same for spot forex, indices, commodities and stocks etc. Stocks are not as volatile when it comes to certain things like news events, but they react heavily to other things such as company earnings reports as well as other news specific to their industry. A big difference is the stock markets opens at 9:30am and close at 4pm NY time. You can pay your broker extra to trade during pre market and post market hours which can lead to big gaps in price when they open at 9:30, something you don’t see as often with forex except occasionally over the weekend if a big news event occurs.
I have been trading all of the above for a while now and I still map out the same S/R levels and chart patterns regardless of what it is.
I do find that forex has a tendency to follow long term patterns more reliably than anything else, depending on the pair of course. I don’t want to use the word predictable, nothing in this business is predictable, but along those lines. I currently prefer forex for this reason (and the fact that it runs 24/7 during the week). Others will have the opposite opinion and tell you to stay away from forex, but that’s really something every individual needs to decide for themselves.
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its a good summary, thanks Matt for your nice reply.
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yes, TA and price action can be used in any market. That’s why learning the skill is extremely important. The analysis is all the same
Very well summed up already and yes if you do have more money and a lot of drive you can apply all that to stocks and honestly you should cause that’s the place where people actually making money, I do know people who made fortune on stocks and do not know - on Forex.