Most of the traders rely a lot on the charts study. They do not make their decisions of the day trading without going through the charts on daily basis. Charts help them making decisions about when to get in to and out from the market. Chart patterns may help traders managing risk effectively and spotting better trading opportunities. You can enjoy the built-in charting patterns of the MetaTrader 4 (MT4) to reach to the informed decisions.
Most of the charting strategies as well as general technical analysis mainly rely on the assumption that something which has happened in the part and had put a major impact on the market, will definitely happen once again in near or far future.
In addition to the main assumption we just read above, following three assumptions are also very important in charting / technical analysis:
All assumptions factor should clearly reflect in the price of any instrument which is currently in the market. In other words, you may say that the prices of all trading instruments actually represent the expectations, fears and hopes of all the traders sitting all parts of the world and placing trading orders. Of course, charts are the only helping tool in this scenario if you want to judge the price of any instrument.
Every professional trader gives top priority to the charting package offered by any broker at the time he / she is going to choose the best broker in the market. We at Rexor Investments, provide you free charting patterns within your MetaTrader 4 (MT4) trading platform.
One very important thing to remember is that charting always does not mean that it is exactly portraying the future of any instrument and you should gain profits only. But also consider below points: