Can I trade mostly based on technical analysis?

Yamaguchi

Junior member
14 1
I think it's very hard to learn fundamental analysis because I just got started with Forex. Also, I need to use 1h chart because most of the day, I can't check the chart very often. Is it good idea to use 1h chart based on 90% technical analysis?
 

piphoe

Legendary member
10,038 194
I'm not a "news trader" although I like to have at least a general idea of what's going on in the world that might influence currency price, when news may come out good or bad, and stuff like that. Try to stay out around possible news release like last week.

Having said that, the unpredictable black swan is forever looming...:cry:
 

ph_trader

Well-known member
397 6
yeah its ok, even if you go full technical, given that you are new to trading, you will one way or another find your way around these things and find your comfort zone.. just take it one step at a time,never rush
 

mlawson71

Active member
154 3
Yes, you can, as long as you keep in mind to avoid trading during high impact events, because technical analysis often goes out the window then.
 

ffsear

Experienced member
1,979 377
I think it's very hard to learn fundamental analysis because I just got started with Forex. Also, I need to use 1h chart because most of the day, I can't check the chart very often. Is it good idea to use 1h chart based on 90% technical analysis?
If your going to trade purely off the charts, my advice would be to trade the higher time frames, 4h and daily. and have more of a swing trading approach (assuming your not trading stocks). Don't try to day trade with charts alone.
 
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rosentray

Well-known member
289 0
Have in mind that hedge fund managers and banks use daily charts and they rely on bottoms and tops. H1 is not enough and might cost you all your money.
 

mcrlogitech

Junior member
14 1
The longer time frames like 1 H or 4H are much more promising in context of the technical analysis when compared to smaller time frames like 5 min or 15 min.
 

SmartGeek

Active member
206 6
Yeah...! Technical Analysis is very important for being successful trader. It is the best way to make a good fortune and to raise your chances of making profit.
 

Arashimuro

Member
85 6
For me, technical analysis is at the basis of my trade, but I also try to stay up-to-date about the latest news that's come out, because they can sometimes change the general picture, as a result everything can be correct in the technical sense, but without the basis of fundamental analysis sometimes nothing works out.
 

SmartGeek

Active member
206 6
Yeah Technical Analysis is a good way to look forward to the trade, it helps the trader to get a view about the Forex Market and decide accordingly to trade or not.
 

RoiFX

Newbie
6 0
Major movement of forex trading is based on fundamental news. But between big news, market follows technical analysis. So most of the time, we need to analysis in technical basis. So we should give preference to trade with technical analysis. It work well. I like to trade with technical analysis. I am getting good result from technical analysis on live trading
 

SmartGeek

Active member
206 6
It is good to trade with the help of Forex Trading Technical Analysis as they have highly expert traders reviews.