How Can I Become A Chart Analysis Expert.

[moonchild]

To become a chart analysis expert you have to learn some things and know how to detect opportunities easily without depending much on indicators.

Market Structure should come naturally to you, the more you look at the charts you should be able to see the stage the market is in, as I said in the last post about market structure there are three stages of market namely:

Uptrend, which is defined simply when the market is going up and retracing.

Downtrend, which is defined simply as when the market is going down and retracing

Consolidation, which is defined as when the market is not moving but just going sideways.

To be an expert in chart analysis you have to be able to detect this by first glance of the chart.

Secondly is knowing how to to draw your support and resistance perfectly with the horizontal line tool, this can be done starting from the higher timeframes because the higher the timeframe the stronger the level.

Thirdly, you should know candlesticks pattern and how they work, this is not really hard compared to the ones above, if you can read the candlestick Bible book you'll know how candlesticks patterns work, you can then look at your chart and practice.

 

[Jasz]

Being a chart analysis expert is about more than being able to read charts. It's about being able to use that information to make predictions and strategize for your company or clients. While it can take a long time to really become an expert in chart analysis, there are some basic steps you can take to get started on the path toward becoming one.

1. Get familiar with the most common chart types and how they're used

Some of the most common chart types include line graphs, bar graphs, and pie charts among others. Line graphs are typically used to show how data changes over time, while bar and pie charts are used to compare parts of a whole. If you want to be a chart analysis expert, you'll need to know how each type of chart works and when it's appropriate to use it.

2. Learn how to analyze the data presented in charts

Once you get familiar with different types of charts, you'll need to learn how to spot trends or patterns in the data they present and make predictions based on those trends or patterns. This will take practice, so don't worry if it doesn't come naturally at first—you'll get there!

3. Use your prediction skills in real scenarios

 

[Swissycheese]

Practice, practice, practice! Learn from your mistakes.

 

[Reinow6]

How much do I need to start forex trading?
Is it capital intensive

 

[Sotherefore]

There are so many things that should be put into consideration when you are thinking of trading Forex, An understanding of all those things you have just mentioned is not a guarantee that someone can be able to make money with forex trading, trading generally both forex and cryptocurrency will requires a professional understanding so as to be able to make money and if these things are not being put into consideration you won't likely be able to make anything and you will just be going there to lose your money.

There are so many things that are to be considered when trading Forex, I understand all those things you have mentioned but that is not a guarantee that I can be able to make money with forex , it is just for me to learn how this can be done perfectly through technical or fundamental analysis because those are the needed core skill that can make a person an independent trader. Trading is some how difficult that is why a lot of people can lose so much of their money.

Trading in the other hand can also be profitable to most people with better understanding and if we do not have good understanding of trading we won't likely make anything out of trading that is just it.

Is left for us to decide if we are really serious to learn about it or not because if we are not really interested to learn about it there is no need for us to invest with our own capital because you may likely lose everything.

 

[Setho]

If you want to learn how to be able to interpret charts then that means you want to become a technical analysis expert and that is something that is good but it is going to take you a lot of time and creative ability .

1. Learn candle sticks. The first and most important thing about technical analysis is that you should be able to know about candlesticks together with timeframes and candlestick patterns . History has shown that there are some certain patterns that candle sticks can show that is going to show you information about the market which can help you to predict price action in the future .

2. Learn technical indicators . Technical indicators are a very important part of every position decision making. You should be able to have a large amount of knowledge about the various technical indicators which is going to include things like volume, the explanation moving averages , the Fibonacci retracement tools, and even more importantly is the moving averages and the exponential moving averages.

3. Trend line. Lastly you should be able to know exactly how to draw trend lines and this is important because you have to be able to throw away every form of bias .