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What is Technical Analysis (TA)?
Interested in learning and experimenting with Technical Analysis (TA) and interpreting charts?
Technical Analysis is the science (some say the art) of reading the price charts of different asset classes (it’s applicable to any major trading market) and, using a variety of indicators along with interpretative analysis, attempting to determine the probability of an asset’s next move.
Chartists review historical data to find patterns, trend-lines or apply even more complicated concepts such as Fibonacci Retracements or Elliot Wave Theory to determine the likelihood an asset’s price will move in a particular direction.
NOTE: Chartists cannot predict the future nor do they claim to (at least the good ones don’t). The goal of TA is to calculate the risk vs. reward of current market movements to make the trade with the most probable outcome.
TradingView – Real-time charts
TradingView is Get Irked’s platform of choice, an incredibly powerful website and accompanying app that offers real-time charting tools for pretty much every asset and equity under the sun including cryptocurrency.
TradingView offers a fantastic free version (although it does have pop-up ads and limits the number of indicators you can use – which is actually a boon for beginners who should concentrate on the fundamentals).
The free version offers more than enough capability for those just getting started (in fact, the free plan has enough content that experienced traders should be able to get by).
For the more advanced chartist, TradingView offers monthly plans on par with Qcharts, the professional service we used to use cost $120 a month! Comparatively, TradingView’s plans start at just $9.95/mo. if you prepay for 2 years or $14.95/mo. without prepaying.
TradingView is a great way to dip your toe into the world of charts with a platform that’s robust enough to be all you’ll ever need as your skills grow over time. Click here to check out TradingView for free
Referral Bonus Disclaimer: If you decide to sign up for a paid TradingView subscription using my link, we each receive a $30 referral bonus.
Disclaimer: Eric "Irk" Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.
As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.
As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.