moonchild
VIP Contributor
To become a chart analysis expert you have to learn some things and know how to detect opportunities easily without depending much on indicators.
Market Structure should come naturally to you, the more you look at the charts you should be able to see the stage the market is in, as I said in the last post about market structure there are three stages of market namely:
Uptrend, which is defined simply when the market is going up and retracing.
Downtrend, which is defined simply as when the market is going down and retracing
Consolidation, which is defined as when the market is not moving but just going sideways.
To be an expert in chart analysis you have to be able to detect this by first glance of the chart.
Secondly is knowing how to to draw your support and resistance perfectly with the horizontal line tool, this can be done starting from the higher timeframes because the higher the timeframe the stronger the level.
Thirdly, you should know candlesticks pattern and how they work, this is not really hard compared to the ones above, if you can read the candlestick Bible book you'll know how candlesticks patterns work, you can then look at your chart and practice.
Market Structure should come naturally to you, the more you look at the charts you should be able to see the stage the market is in, as I said in the last post about market structure there are three stages of market namely:
Uptrend, which is defined simply when the market is going up and retracing.
Downtrend, which is defined simply as when the market is going down and retracing
Consolidation, which is defined as when the market is not moving but just going sideways.
To be an expert in chart analysis you have to be able to detect this by first glance of the chart.
Secondly is knowing how to to draw your support and resistance perfectly with the horizontal line tool, this can be done starting from the higher timeframes because the higher the timeframe the stronger the level.
Thirdly, you should know candlesticks pattern and how they work, this is not really hard compared to the ones above, if you can read the candlestick Bible book you'll know how candlesticks patterns work, you can then look at your chart and practice.