RE: SEC S18-W1 || Mastering the Markets with technical analysis
Technical knowledge in trading is all about using charts, patterns, and indicators to analyze the past behaviour of a stock, currency, or any other financial asset to help traders predict future price movements of these assets and make informed decisions
You have effectively captured the essence of technical analysis, emphasizing its reliance on historical data to forecast future price trends, which is crucial for making informed trading decisions.
n trading, a candlestick is a way of representing the price movement of an asset such as stock, currency, or cryptocurrency over a specific period.
This is a clear and concise explanation of what a candlestick is in trading, highlighting its role in visually representing price movements over time, which is fundamental for traders to understand market dynamics.
Pivot points however are calculated using a formula that takes into account the high, low, and closing prices of the previous trading session (certain time frame, it could be a day, week, month, year, etc.).
Wow! You have correctly described the calculation of pivot points, stressing their reliance on previous session data, which helps traders identify potential support and resistance levels crucial for trading strategies.
Thank you for taking the time to share your thoughts and encouragement. I truly value all the effort, support, and kind wishes you've given. It means a lot to me.