Are you struggling to master technical analysis in your trading?
It’s not your fault, it’s just complex.
Here are 5 easy ways to help you master it quickly🧵:
Start with the Basics
– Learn what candlesticks represent: open, close, high, and low prices
– Understand basic chart types: line, bar, and candlestick charts
– Familiarize yourself with common terms like trend, support & resistance
Break Down Concepts Daily
Study in small chunks to build understanding over time.
– Dedicate 30 minutes a day to learning one new concept
– Review one technical indicator at a time and apply it to historical data
– Create flashcards with key terms and their definitions
Focus on Price Action
Price action provides direct insights into market behavior
– Watch how prices move without relying heavily on indicators
– Practice reading naked charts to develop a feel for price
– Study candlestick patterns to predict potential market movements
Understand Market Trends
Grasping trends is fundamental to technical analysis.
– Use higher timeframes to identify the long term trend (Daily & Weekly)
– Identify the overall direction: upward, downward, or sideways
– Confirm trends with moving averages for accuracy
Learn Support and Resistance Levels
These will guide your trading decisions
– Draw horizontal lines at previous high and low points
– Observe how prices react at these levels: do they bounce or break through?
– Use these levels to set entry and exit points for trades
To learn more about How you can Start Trading for a living, sign up below for my Free Training on the “7-Steps to Financial Freedom through Trading”.
