Technical Analysis Tools

What Is Technical Analysis?

Technical analysis studies price charts and patterns to predict future price movements. It's based on the idea that historical price patterns tend to repeat.

Fibonacci Retracements

Fibonacci levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) identify potential support and resistance levels. The 61.8% level (golden ratio) is particularly significant.

Pivot Points

Pivot points calculate daily support and resistance levels based on the previous day's high, low, and close. They're widely used by institutional traders.

Support and Resistance

Support is a price level where buying pressure exceeds selling pressure. Resistance is where selling exceeds buying. These levels are key for entry and exit decisions.

Combining Indicators

Don't rely on a single indicator. Combine Fibonacci with pivot points and trend analysis for higher-probability setups. Confluence of multiple signals increases accuracy.