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Forex encyclopedia

We can divide all of the technical analysis methods into several groups: - Chart trading methods. We can predict the price movement just using a price chart or its transformed image. Traders mark resistance and support levels, channels and lines. They also apply a range of technical analysis patterns. - Technical indicators. Traders have been using most of them from the beginning of the last century. However they are commonly used only last ten years due to the Internet and the software which can calculate them easily.There is a wide range of forex technical analysis indicators in the marketplace.
Gann Line is the trend line laid at the angle of 45°. This line is also called balance angle or “one-to-one”, which means that one price interval corresponds to one time interval. Gann stated that 45° angle finely demonstrates long-term line of the trend. Any cross of balance angle made by the price shows that trend stops (in other words, about correction) or about reversal of major tendency. When prices are above balance angle, it says about dominating of ascending tendency on the market, when prices are at the angle 1×1, the tendency is descending.
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Forex encyclopedia
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