3 technical indicators that make forex trading technical analysis more simple part 1

Of all the different kinds of forex technical studies that there are available there are three that seem to top the bill when it comes to being on more forex trading charts in the world than any others. Those three technical studies are the Moving Average Divergence Convergence indicator, aka "MACD"; the Bollinger Bands; the Relative Strength Index or RSI for short. These were equity trading tool but have successfully been brought over from equity trading charts on to forex charts with similar effect. If used on intraday timeframes, these indicators can lag price action so traders beware on that count.

Using these indicators on a daily chart or a weekly chart can assist traders in gauging validity of a signal given them on an intraday forex trading chart. Simplicity is best and that is what these indicators give. However, in days of instant gratification that we live in, a lot of traders do not want simplicity, but an instant holy grail that pays out dividends with no work. Not going to happen to the average Joe and will make the traders life very difficult. Read more...