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How to Use Past Price for Estimating the Next Step
Abstract：How Forex traders can use the charts as a road map to figure out the most likely price path?
How Forex traders can use the charts as a road map to figure out the most likely price path？
Supply and demand leaves a trail on the chart (past price). Traders can analyse that trail (price movement) and use it as a road map to understand what the next price movement could be. Analysing past price (past path of least resistance) helps traders estimate and forecast what the next step or two could be. Based on that, traders can then assess whether there are any interesting potential trade setups within that expected path.
The financial markets in general and the Forex market in specific are in a continuous tug of war between sellers and buyers (supply and demand). This creates price waves that are visible on almost all charts.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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