“An indicator is the most important tool for technical analysis. Decisions about how and when to trade can be made on the basis of technical indicator signals. The essence of technical indicators is a mathematical transformation of a financial symbol price aimed at forecasting future price changes. This provides an opportunity to identify various characteristics and patterns in price dynamics which are invisible to the naked eye.
widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random price fluctuations. A moving average (MA) is a trend-following or lagging indicator because it is based on past prices.
The relative strength index is a technical indicator used in the analysis of financial markets. It is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.”

  • How it is different from other analysis?: An indicator is the most important tool for technical analysis. Decisions about how and when to trade can be made on the basis of technical indicator signals. The essence of technical indicators is a mathematical transformation of a financial symbol price aimed at forecasting future price changes. This provides an opportunity to identify various characteristics and patterns in price dynamics which are invisible to the naked eye.

  • widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random price fluctuations. A moving average (MA) is a trend-following or lagging indicator because it is based on past prices.

  • The relative strength index is a technical indicator used in the analysis of financial markets. It is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

  • Fibonacci Series?: Fibonacci series is the sequence of numbers which are obtained by adding the previous two numbers. the ratio of these numbers are 1.168

  • you must draw a trend line at the high and low levels, and then divide the vertical distance by the Fibonacci ratios. However, you normally won’t have to draw the lines. Your trading platform should automatically draw the lines on the chart. Now the question arises, where should you set the support and resistance levels? Again, the answer is simple. You must look at the past to find the ideal levels. Suppose that from looking at the price chart, you find that in the past two months, the prices tend to remain above the 38.2 percent level. So, this can become your support level. The Fibonacci level above this level will become your resistance level. You can repeat the same process in the downward sloping trend as well. The main point is that you should look for price levels in the past to determine the support and resistance levels.

1 Comment
  1. Naresh 6 months ago

    Hi,
    We really appreciate the time and effort you put into this practice session.

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