Technical analyses simple means watching and studying the graph, the pattern of the graph, where the graph is heading ahead. And there are time frames that you can check.
For example, let’s say in a 5 minutes time frame the candle stick gone up, in the next 5 minutes time frame where does the candle stick go? Will it go further up, same level or down? If in the next 5-minute time frame the candle stick goes up, it means that in that time frame the market is heading in an uptrend or bullish signal. Same for the downtrend or bearish signal.
Now that does not mean that it is a bullish signal for the whole day, for instance the time frame of 15 minutes chart could suggest a different story. It is very much possible that the 5-minute time frame the candle stick suggest a bullish trend, but in the 15-minute chart it could suggest a downtrend.
Same applies to a daily chart. A daily chart is where you can calculate the Fibonacci and find where exactly the market trends is heading. Or should I say where the volatility of the market will be for the following day.
My point is that keep checking the 5 minute, 15 minute and daily charts when it comes to technical analyses. These 3 candle sticks are the most commonly used. But you can also check the 4-hour chart and so forth.
Technical analyses only predict the short-term future of the market, the longer term comes with Fundamentals. This is what decides where the volatility of the market will be. The further ups and downs of the market trend. And that is the economic calendar.
Combining both technical analyses and fundamentals you will become a Forex trader.
