Understanding charts is essential for traders and investors as it helps them analyze data, identify trends, and make informed decisions. Research analysis, which is based on technical analysis, can be a powerful tool for those looking to trade in financial markets. John Burnell, an account manager and team member at Steady Trader, is a strong advocate of technical analysis and its usefulness in trading.
Burnell initially struggled to understand why markets were volatile and constantly changing. However, he found candlestick charts to be a valuable resource for technical analysis, as they provide a visual representation of market trends. He believes that technical analysis can be extremely helpful if used correctly and that oversimplification is what draws many traders to it.
Burnell has experimented with different indicators, such as moving averages and market memory, and has found that the odds are more in his favor when multiple indicators confirm a trend. He also advises traders to check the whole sector and look for correlations when they see something going on in their favorite stock.
What You’ll Learn:
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What ‘confluence’ means in regards to technical analysis.
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What some of the indicators used at Steady Trader are.
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Why global liquidity is so important to follow.
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And much more!
Favorite Quote:
“The business cycle, and more importantly, the credit cycle, will always supersede and trump the charts.” -Serge Berger
