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To be profitable in today's world technology and advancement, one must be proficient and reading and more importantly understanding chart patterns and basic technical indicators. Below are just a few basic points to help your understanding of technical analysis and currency chart reading.
In every open FX position, an investor is long in one currency and shorts the other. A short position is one in which the trader sells a currency in anticipation that it will depreciate. This means that potential exists in a rising as well as a falling market. The ability to sell currencies without any limitations is another distinct advantage over equity trading. In the US equity markets, it is much more difficult to establish a short position due to the Zero Uptick rule, which prevents investors from shorting a stock unless the immediately preceding trade was equal to or lower than the price of the short sale.
To be profitable in today's world technology and advancement, one must be proficient and reading and more importantly understanding chart patterns and basic technical indicators. Below are just a few basic points to help your understanding of technical analysis and currency chart reading.
