Community Forex Questions
How important are chart patterns in forex?
Chartist analysis in forex consists of identifying figures on the price chart; these are usually repeated historically so you can practice identifying them; they are also usually formed in different financial instruments and time periods, and through them, it is possible to predict where the next price movement will occur with some reliability. It is perhaps the most traditional form of analysis in Forex, and certainly one of the most effective, so knowing it is always beneficial.
Chartist figures are formed when the market oscillates and leaves a "trail" that aids in detecting these figures. There are chartist figures that can be used to confirm trend changes, identify opportunities to enter the market, and set price objectives. Chartist figures are more effective when operating in high temporality, though they appear more frequently in short periods, and failures are common.

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