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Random article: Candlestick Analysis
Forecasting the currency market by technical analysis consists of a variety of methods. One of them is the candlestick charts analysis. In this article we look at this kind of analysis. Directly the analysis of candlesticks and philosophy of this method was created in Japan in the XIII century. Its founder was a Japanese rice trader Homma Munehisa from Osaka. He traded on the rice stock exchange and tried to understand the psychology of buyers and sellers. Thanks to the timely warning heralds he received information about the slightest change in price, and thus quickly react to exchange events. This contributed to the fact that he was able to achieve unprecedented results - profit for one hundred consecutive transactions. In order for distinguished service Munehisa was awarded the title of samurai and received the right to be emperor adviser. His portrait can be seen on this picture.
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Popular article: Fibonacci Retracement in Forex
Technical levels are one of the crucial elements of technical analysis on the Forex market. Technical levels represent a certain value approaching which the price faces resistance in further movement. On the chart it is pictured as zone (level), where price went and bounced off later, repeated its movement to the level again and without being able to pass it bounced off. Such approaching and returns can take place on a repeated basis and the more efforts are made, the stronger price level we have.
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