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What is Technical and Fundamental Analysis - Learn to Trade Forex with cTrader - Episode 2 - YouTube
Channel: unknown
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hello guys today we'll talk about the
most important tools you have at your
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disposal for making your trading decisions
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these tools are technical analysis and
fundamental analysis
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let's talk about technical analysis first. A common misconception is that technical analysis is a
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crystal ball that predicts the future
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that's what some people want you to
believe. That's not entirely true technical
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analysis is a very important tool
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to help you with your trading decisions
but it doesn't predict
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anything in in a certain way.
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What is technical analysis exactly
and how is it used?
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technical analysis is the analysis of
the past
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and present prices of the symbol that
your trading
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in order to try to understand where
the price
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is at the particular moment that you
looking at it and trying to forecast
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where it's going to go next
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technical analysis is used
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to give you better entry points when you
enter the market
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to give you better exit targets when
you exiting
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your trade based on technical levels.
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To give you good breakout
scenarios if you do breakout trading
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to give your possible retracements of
the trend when you trend trading
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and to give you possible reversals
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if you're buying low and selling high.
let's look at cTrader
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at cTrader we see
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the chart that I talked about
before, which is the main
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tool when you're doing technical analysis. cTrader gives you
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all the technical analysis tools that you will
need to perform a high level of technical
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analysis whether these
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simple trend lines, now there's no
trend here and
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or fibonacci tools or and andrew's pitchfork
or it is indicators, trend
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indicators, oscillators volatility
volume indicators, we're going to do
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some videos on specific
indicators and technical tools
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in the future on
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exactly how to use them. So that's it about technical analysis let's talk
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about the second important tool which is
fundamental analysis.
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fundamental analysis is actually a
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very general term. Fundamental analysis is the analysis of a country
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or economic indicators
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or any to news related to
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the symbol will that we're trading or
anything that
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is not purely technical. Most
commonly
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we analyze specific economic indicators
and announcements like gross domestic product
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unemployment interest rates housing and
all the
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announcements that are coming to the
economic calendar. Traders who trade
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only on fundamental analysis usually are
long term traders
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so, they do some trades
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per year or maybe some trade
per
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one trade per a month or
something. The reason for that
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is that
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even if you know how a county is performing
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or you think you know how a currency is going to perform
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it's very difficult to pinpoint exactly
what's gonna happen today or what will
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happen this week
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that is specifically true for news that
come out which
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very often in forex have the opposite
effect and
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for example a very good news might
come out for USD but the moment
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those news come out
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USD might fall instead of rise because
people might be expecting these good
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news and may be buying all this time
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but at the time the announcement they decide to sell and take their profits
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in cTrader
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most of our brokers
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have news in the bottom of the tradewatch
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so you can see all the latest news
that come up and also you can
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select to see specific things
like the economic indicators or
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you can find economic calendars.
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if your broker is not offering news
ask them to offer them
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we are integrated with most news providers so you can find anything you need in cTrader
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so how is technical and fundamental analysis
combined
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even though there are a lot of traders
that are purely technical or purely
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fundamental
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the most logical thing to do is try
to understand how both work and keep
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an eye on both
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what's important for fundamental
traders they can use technical analysis to
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find some
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They know from from their
fundamental analysis that they want to
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go long or short
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but they can find some better entry
points and better technical exit points for
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their strategy.
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On the other hand technical traders must surely
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keep an eye on the economic calendar
because
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at the moment of important news
announcements there's always very high
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volatility in the market
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in today's video we we talked generaly
about technical and fundamental
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analysis
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to explain to people who don't know these
concepts
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what they are and generally how they are used
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In following videos we will go into more depth
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into technical and fundamental
analysis. Next videos coming up are
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how to make your own trading system
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which is combining the basic
principles of fundamental and technical
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analysis
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and videos about risk management
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so, thanks for watching
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