Best forex technical analysis tools

Candlestick charts are one of the most powerful technical analysis tools in the trader’s toolkit. They are also best forex technical analysis tools of the most prevalent. Most technical analysis programs use candlesticks as the default mode of charting.

Used correctly, candlesticks can give a signal in advance of much other market action. They can be a leading indicator of market activity. But familiarity doesn’t necessarily breed expertise. There are perhaps more than 100 individual candlesticks and candlestick patterns.

This is a daunting amount of information for a trader to understand and apply. As with most things, some candlestick patterns are more useful than others. Here, we will take a look at some of the most viable for stock traders. These are candlestick patterns that experience shows have the most relevance to making consistently profitable trading decisions. Used correctly, they should increase the accuracy of your predictions. For those not familiar with the details of candlestick charting, it’s important to go over the fundamentals. If the candle is green or white, it means the lower extreme is defined by the opening price and that the stock’s price rose during the period being charted.

If the candle is red or black, then the lower extreme identifies the closing price, and the stock fell during the period. Candles may be created for any time period: Monthly, weekly, hourly or even a minute. About the Author Bramesh Bhandari is a proficient stock trader at Indian stock market. He also provides online tutoring on technical analysis to traders. Here are a some of the best web sites resources and technical analysis software that I have found on the internet. Technical Analysis Software Tradespoon – This online trading algorithm predicts prices into the future.

Simple and very easy to use. Market Club – This is a nice charting platform with multiple indicators, ability to draw trend lines, Fibonacci retracements, etc. This service is a charting, scanning, and trading system all in one. It also tells you exactly what day to buy and what day to sell to make a profit. Gift For Stock Traders Stock Market Gifts – On this page, you will find some gifts for stock traders. Stock Charts With Technical Analysis Finviz – Scan for chart patterns, get real-time alerts, and backtest your strategy.

Offers charting services, real-time or delays market scans, and free newsletter. Stock Consultant – Technical Analysis of stocks with stock quotes, intraday and daily stock charts, portfolios, stock searches and screening tools to research the stock market. Worden TC2000 – Stock Market research, stock data, charting software and online market web tools. Videos Technical Analysis Videos – Here are some technical analysis videos that I made. Swing Trading Checklist – Download a summary of this website. Feel free to share it anywhere! Brokers Ally Invest – This is the broker I use.

Technical Analysis Websites Investopedia – This page on Investopedia has a ton of articles on trading stocks and technical analysis. The Pattern Site – This site by Thomas Bulkowski shows all chart patterns, descriptions, how to trade them, and back testing on each one. All About Stock Market – Offers you all the simple ideas, info, analysis about the stock market which will make your introduction, selection and investment in the stock market as easy as possible. Blogs Top 75 Trading Blogs And Websites For Traders – Here is a list of the best blogs and websites on Feedspot. Top 30 Trading Blogs of 2018 – Here is a hand picked list of the top blogs currently available.

Trading Tips Technical Analysis Tips – Here are some tips and tricks that other traders have submitted to me over the years. Check out the “Stocks On the Move” section on the homepage. Yahoo Earnings – Check to see when your stocks are coming out with their earnings releases. Seeking Alpha – Exceptional market news, commentary, and trading ideas. Trading Magazines and Publications Stock and Commodities – I love this magazine! Every time it comes in the mail, everyone in my house knows that I am not to be disturbed!

Get a subscription to keep up with the latest trading strategies and methods. Learn to trade Trading Course This is a home study course that teaches you how to trade stocks from full-time swing trader Kevin Brown. Featured Article How to Scan For Stocks Looking for the best stocks to trade? Here is a list of the best scanning and charting services available today.

Swing Trading System Trade Triangles Are you looking for an easy trading system to follow that takes all the guesswork out of when to buy and sell stocks? Stock Market Software Tradespoon Click a button and this software program will tell you what the stock price will be into the future. Give this service a test drive. I think you will really enjoy tinkering around with this trading algorithm!

Recommended Reading What Are the Best Stock Market Books? See my list of the top technical analysis books that I think every trader should own. It forms from a previous uptrend. You need to be aware that this pattern has the potential to be multiple patterns, and you cannot be sure that it is a triple top until it hits the third point on the resistance line. Once it breaks under the support line you can enter the trade to the downside or sell it short.