Technical analysis helps traders study how prices move in the stock market.
Instead of focusing mainly on a company’s revenue, profits, debt or balance sheet, technical analysis studies information such as price, volume, trends, support and resistance, candlestick charts, market structure and momentum.
For beginners, the goal should not be to predict every market move. A better goal is to understand what a chart is showing, identify possible trading opportunities and define risk before entering a trade.
This guide explains technical analysis for beginners in India step by step, using examples relevant to markets such as the NSE and BSE.
Disclaimer: This article is for educational and informational purposes only. It does not constitute investment, financial or trading advice. Technical analysis cannot guarantee profitable trades, and trading can result in financial losses.
Quick Answer: What Is Technical Analysis?
Technical analysis is the study of historical price movement, volume and market behaviour to understand trends and identify possible trading opportunities.
Beginners usually start by learning:
- Candlestick charts
- Trends and market structure
- Support and resistance
- Trading volume
- Moving averages
- RSI
- MACD
- Basic chart patterns
- Risk management
Technical analysis can be used for intraday trading, swing trading and longer-term market analysis, but no indicator, pattern or analytical method can predict future prices with certainty.
Key Takeaways
Technical analysis studies price, volume and market behaviour rather than focusing primarily on company financial statements.
Beginners should understand trends, market structure and support/resistance before adding multiple indicators.
Candlesticks provide information about open, high, low and close prices during a particular period.
Indicators such as RSI, moving averages and MACD can provide additional information, but they should not automatically be treated as buy or sell signals.
Volume can provide context about market participation.
The same security can show different trends across different timeframes.
Most importantly, technical analysis is a decision-making framework, not a prediction machine.
What Is Technical Analysis?
Technical analysis is a method of studying financial markets by analysing historical price and trading data.
A trader may examine a chart to answer questions such as:
- Is the price trending upward, downward or sideways?
- Where have buyers previously become active?
- Where has selling pressure previously appeared?
- Is trading volume increasing or decreasing?
- Is momentum strengthening or weakening?
- At what point would a trading idea become invalid?
Technical analysis uses price and trading data to study the behaviour of market participants.
Charts therefore provide a visual record of how prices have behaved over time.
If you want to explore the concept separately before continuing with this complete beginner guide, read our detailed explanation of what is technical analysis.
How Does Technical Analysis Work?
A simple technical-analysis process can be represented as:
Price → Trend → Important Levels → Confirmation → Trade Plan → Risk Management
Suppose a stock has been making higher highs and higher lows.
That may indicate an uptrend.
Now suppose the stock has repeatedly attracted buying interest around ₹500.
A trader may identify the ₹500 area as potential support.
If the stock later returns toward ₹500, the trader might observe price behaviour, volume and the broader trend to determine whether a possible setup is developing.
The chart does not guarantee that ₹500 will hold.
Support can fail.
The purpose of technical analysis is therefore not to know the future. It is to organise available market information into a structured analytical process.
Technical Analysis vs Fundamental Analysis
Technical and fundamental analysis examine markets differently.
| Factor | Technical Analysis | Fundamental Analysis |
|---|---|---|
| Main focus | Price and market behaviour | Business and financial performance |
| Common data | Price, volume, charts, indicators | Revenue, profit, debt, cash flow |
| Common users | Traders and active investors | Long-term investors |
| Typical horizon | Short to medium term | Medium to long term |
| Main question | How is price behaving? | How is the business performing? |
| Risk evaluation | Price structure and trade invalidation | Business quality and valuation |
The two approaches do not necessarily have to compete.
For example, an investor might use fundamental analysis to research a company’s financial condition and technical analysis to examine price behaviour.
Read our complete comparison of technical analysis vs fundamental analysis to understand where each approach is commonly used.
Technical Analysis Basics Beginners Should Learn First
Before learning dozens of indicators, understand the basic building blocks of a chart.
Price
Price represents the level at which buyers and sellers transact.
It is the primary input used in most forms of technical analysis.
Volume
Volume measures trading activity during a particular period.
Higher volume can sometimes indicate greater market participation, but volume should always be interpreted in context.
Trend
A trend describes the general direction of price.
Markets can broadly display three conditions:
Uptrend: Price generally forms higher highs and higher lows.
Downtrend: Price generally forms lower highs and lower lows.
Sideways market: Price moves within a relatively defined range without maintaining a clear upward or downward direction.
Timeframe
A timeframe determines how much market activity each candle represents.
Examples include:
1 minute → 5 minutes → 15 minutes → 1 hour → 4 hours → Daily → Weekly
A stock can appear bullish on a 15-minute chart while remaining bearish on a daily chart.
This is why timeframe context matters.
Market Structure
Market structure refers to the sequence of important highs and lows visible on a chart.
For example:
Higher High → Higher Low → Higher High
can be consistent with bullish structure.
Meanwhile:
Lower Low → Lower High → Lower Low
can be consistent with bearish structure.
Volatility
Volatility describes how strongly prices fluctuate.
Higher volatility can create larger price movements in both directions.
Greater potential movement can also mean greater risk.
Liquidity
Liquidity describes how easily a security can generally be bought or sold without substantially affecting its market price.
Liquidity can be particularly important for short-term traders because poor liquidity may contribute to wider spreads and greater slippage.
How to Read a Candlestick Chart
Candlestick charts are widely used in technical analysis.
Each candle contains four main prices:
Open: Price at the beginning of the period.
High: Highest price reached during the period.
Low: Lowest price reached during the period.
Close: Price at the end of the period.
Bullish Candle
A bullish candle forms when the closing price is above the opening price.
It indicates that price moved higher between the open and close of that period.
Bearish Candle
A bearish candle forms when the closing price is below the opening price.
It indicates that price moved lower between the open and close.
Candle Body
The candle body represents the distance between the opening and closing prices.
A larger body reflects a larger movement between those two prices during that period.
Candlestick Wicks
Upper and lower wicks show how far price travelled beyond the opening and closing range.
Long wicks can sometimes provide useful information about rejection or volatility, but their meaning depends on context.
Common Candlestick Patterns for Beginners
Beginners do not need to memorise dozens of candlestick patterns.
Start with a few common structures and learn how their meaning changes depending on location and market context.
Doji
A Doji forms when the opening and closing prices are very close.
It can indicate indecision during that particular period.
A Doji alone is not a trading signal.
Hammer
A Hammer generally has a relatively small body and a longer lower wick.
When it forms following a decline near an important support area, traders may observe whether selling pressure is weakening.
Shooting Star
A Shooting Star generally has a relatively small body and a long upper wick.
When it forms after a rise near resistance, traders may examine whether higher prices are being rejected.
Bullish Engulfing Pattern
A bullish engulfing pattern occurs when a bullish candle’s body covers the body of the preceding bearish candle.
The surrounding trend and price level matter more than the pattern name alone.
Bearish Engulfing Pattern
A bearish engulfing pattern occurs when a bearish candle’s body covers the body of the preceding bullish candle.
Again, context is important.
A candlestick pattern in the middle of an unclear trading range can have a very different meaning from the same pattern appearing around a major market level.
What Are Support and Resistance?
Support and resistance are fundamental technical-analysis concepts.
Support
Support is an area where buying interest has previously been strong enough to slow or reverse a decline.
Suppose a stock repeatedly stops declining around ₹500.
Traders might identify the region around ₹500 as a potential support zone.
Support is generally better viewed as an area or zone, not an exact number.
Resistance
Resistance is an area where selling pressure has previously slowed or stopped an advance.
If a stock repeatedly struggles to move beyond approximately ₹600, traders may treat that area as potential resistance.
Why Support and Resistance Matter
These areas can help traders think about possible entries, trade invalidation, stop placement, targets, breakouts, trend continuation and potential reversals.
However, support and resistance can fail.
They are analytical reference areas, not guaranteed turning points.
What Is a Breakout?
A breakout occurs when price moves beyond an important resistance area or trading range.
Suppose:
Previous resistance = ₹1,000
The stock subsequently moves above ₹1,000 and closes around ₹1,025.
A trader may investigate whether a breakout is developing.
Additional factors might include volume, closing price, broader trend, overall market conditions and subsequent follow-through.
A temporary move above resistance followed by a rapid move back below the level is commonly described as a false breakout.
Not every move beyond resistance develops into a sustained trend.
What Is a Breakdown?
A breakdown is the opposite concept.
It occurs when price moves below an important support area or trading range.
Suppose:
Support = ₹800
If price falls below ₹800 and remains below the area, traders may interpret that as weakening market structure.
However, prices can recover after temporarily moving below support.
That is why context and risk management remain important.
Best Technical Indicators for Beginners
Indicators are mathematical calculations based on price, volume or both.
They can help organise particular types of market information.
But adding more indicators does not automatically improve analysis.
Beginners should generally start with a small number and first understand price behaviour.
Moving Averages
A moving average calculates the average price over a selected number of periods.
Common examples include 20-period, 50-period, 100-period and 200-period moving averages.
Moving averages can help traders examine the broader direction of price.
For example, price remaining above a rising moving average may be consistent with an upward trend.
Price remaining below a declining moving average may be consistent with a downward trend.
But a moving average is derived from historical prices and can lag current market conditions.
RSI
RSI stands for Relative Strength Index.
It is a momentum indicator that moves between 0 and 100.
Commonly referenced areas include:
Above 70: Relatively strong or potentially overbought momentum.
Below 30: Relatively weak or potentially oversold momentum.
Beginners should not automatically assume:
RSI above 70 = sell
or
RSI below 30 = buy
Strong trends can keep RSI at elevated or depressed levels for extended periods.
RSI is generally more useful when considered alongside trend, market structure and important price areas.
MACD
MACD stands for Moving Average Convergence Divergence.
It is commonly used to examine trend and momentum.
The indicator generally includes a MACD line, signal line and histogram.
A bullish crossover occurs when the MACD line crosses above its signal line.
A bearish crossover occurs when it crosses below.
These events should not automatically be treated as buy or sell instructions.
MACD can produce misleading signals, particularly in sideways markets.
Bollinger Bands
Bollinger Bands generally contain a middle moving average, an upper band and a lower band.
The distance between the bands changes with volatility.
The bands tend to widen as volatility increases and contract as volatility decreases.
A period of narrow bands is sometimes described as a Bollinger Band squeeze.
A squeeze alone does not predict which direction price will move next.
Volume
Volume helps traders examine market participation.
For example:
Rising price + increasing volume
may suggest greater participation in the price move.
A breakout occurring on relatively weak volume might encourage a trader to examine the situation more carefully.
Volume itself cannot determine whether a trade will succeed.
Technical Indicator Comparison
| Indicator | Main Purpose | Beginner Difficulty |
|---|---|---|
| Moving Average | Trend | Easy |
| RSI | Momentum | Easy |
| MACD | Trend and momentum | Moderate |
| Bollinger Bands | Volatility | Moderate |
| Volume | Market participation | Easy |
Beginners should generally become comfortable with price, trend, structure, support, resistance and volume before combining several indicators.
Common Chart Patterns
Chart patterns are recurring price structures studied by technical analysts.
They may be associated with possible continuation or reversal scenarios, but they do not guarantee an outcome.
Double Top
A double top occurs when price reaches a similar resistance area twice and struggles to continue higher.
Traders may interpret this as possible weakening in bullish momentum, depending on subsequent price action.
Double Bottom
A double bottom occurs when price tests a similar support area twice and holds.
Traders may examine whether buying interest is increasing.
Head and Shoulders
This pattern commonly consists of:
Left Shoulder → Head → Right Shoulder → Neckline
A subsequent break of the neckline can be interpreted as a change in market structure.
Triangle
Triangles occur when price becomes compressed between converging support and resistance areas.
Common forms include ascending, descending and symmetrical triangles.
Flag
A flag can occur after a directional price move followed by a smaller consolidation.
Traders may then observe whether price resumes the previous direction or invalidates the pattern.
No chart pattern should be treated as certain.
How to Identify a Market Trend
Trend identification should generally come before indicator analysis.
Uptrend
Look for:
Higher Highs + Higher Lows
Hypothetical example:
₹100 → ₹120 → ₹110 → ₹135 → ₹122 → ₹145
The important feature is that major highs and lows are generally moving upward.
Downtrend
Look for:
Lower Highs + Lower Lows
Hypothetical example:
₹150 → ₹130 → ₹140 → ₹115 → ₹125 → ₹100
Sideways Market
A sideways market occurs when price repeatedly moves between support and resistance without establishing a sustained directional trend.
Some trend-following tools can produce more false signals during sideways conditions.
What Is Multi-Timeframe Analysis?
Multi-timeframe analysis involves examining the same stock or index across multiple chart timeframes.
For example:
Daily chart: Broader trend
1-hour chart: Important market structure
15-minute chart: Possible setup
5-minute chart: More detailed price behaviour
The objective is to avoid analysing a very small timeframe without understanding the broader price structure.
Which Timeframe Is Best for Beginners?
There is no universally best timeframe.
The appropriate timeframe depends on trading style and objective.
| Trading Style | Commonly Observed Timeframes |
|---|---|
| Scalping | Very short intraday charts |
| Intraday Trading | Short intraday charts |
| Swing Trading | Hourly to daily charts |
| Positional Trading | Daily to weekly charts |
| Long-Term Investing | Weekly to monthly charts |
These are examples rather than fixed rules.
Beginners may find higher timeframes easier to interpret because they contain less short-term market movement.
How to Analyse a Stock Using Technical Analysis
Beginners can use a structured process rather than randomly checking indicators.
Step 1: Identify the Broader Trend
Start with a higher timeframe and determine whether the stock is trending upward, downward or sideways.
Step 2: Mark Important Support and Resistance
Identify significant previous highs and lows.
Avoid filling the chart with unnecessary lines.
Step 3: Examine Market Structure
Determine whether price is showing higher highs and higher lows, lower highs and lower lows, or no clear directional structure.
Step 4: Examine Volume
Look at whether recent price movements are accompanied by changes in trading activity.
Step 5: Use One or Two Indicators if Needed
For example:
Moving Average → Trend context
RSI → Momentum context
Avoid adding indicators simply because they are available.
Step 6: Define the Setup
Decide what would need to happen before you would consider a possible trade.
Hypothetical example:
Price closes above a previously identified resistance area while volume increases relative to recent activity.
This is an analytical example, not a recommendation to trade.
Step 7: Determine Where the Idea Becomes Invalid
Ask what price behaviour would show that the original analysis is probably wrong.
Step 8: Consider Position Size
Position sizing determines how much capital is exposed to a particular trade.
It should reflect risk tolerance, available capital, strategy and market conditions.
Step 9: Identify a Potential Exit Area
A potential target can be based on market structure rather than an arbitrary profit objective.
Step 10: Decide Whether to Skip the Trade
You do not have to trade every setup.
If market conditions are unclear or risk cannot be defined appropriately, not taking a position is a valid decision.
Technical Analysis Example for Beginners
Consider a hypothetical stock that has been trending upward.
Suppose:
Previous resistance: ₹1,000
Current price: ₹990
50-day moving average: Rising
RSI: Approximately 58
Volume: Increasing
The stock subsequently closes above ₹1,000 at ₹1,020 while trading activity increases.
A trader might interpret this as a possible breakout.
However, instead of assuming that crossing ₹1,000 guarantees further gains, the trader could examine the broader market trend, whether price remains above the previous resistance area, volume, invalidation and potential risk.
This hypothetical example shows how technical analysis can be used as a process rather than a prediction.
Risk Management in Technical Analysis
Technical analysis without risk management can still result in substantial losses.
No chart pattern or indicator has a 100% success rate.
Stop-Loss Concepts
A stop-loss can help define when a position should be exited if the original trade idea fails.
For example, if a hypothetical bullish setup depends on an important support zone remaining intact, a meaningful break below that area may invalidate the original analysis.
Stop placement depends on strategy, security, volatility, timeframe and individual risk considerations.
Position Sizing
Position sizing determines how much capital is exposed to an individual position.
Even a strategy that has performed well historically can experience consecutive losses.
Beginners should therefore understand position sizing before increasing capital exposure.
Risk-Reward
Risk-reward compares the potential downside considered in a trade plan with its potential upside.
Hypothetical example:
Potential loss: ₹1,000
Potential target: ₹2,000
Risk-reward: 1:2
A favourable risk-reward ratio does not guarantee that a trade will be profitable.
It is simply one way of structuring the relationship between potential risk and potential reward.
Common Technical Analysis Mistakes Beginners Make
Using Too Many Indicators
Adding RSI, MACD, stochastic oscillators, Bollinger Bands, several moving averages and other tools simultaneously can make a chart more confusing.
Start simple.
Trading Every Candlestick Pattern
A Hammer in the middle of an unclear sideways market may carry little useful information.
Context matters.
Ignoring the Broader Trend
A bullish-looking pattern within a strong broader downtrend can behave differently from the same pattern in an established uptrend.
Ignoring Volume
Volume can provide useful context about participation, but it should not be treated as a standalone predictor.
Entering Without an Invalidation Plan
Determine what would make the original analysis wrong before taking a position.
Overtrading
Technical analysis does not require taking a trade every day.
Changing Strategies Constantly
A small number of losing trades does not necessarily prove that an entire analytical approach is invalid.
Treating Indicators as Predictions
Indicators are mathematical calculations derived from market data.
They do not know what the market will do next.
Technical Analysis Tools Used in India
Several tools and platforms can help learners study charts.
TradingView
TradingView provides charting, drawing tools, indicators, watchlists and multiple timeframes.
Broker Charting Platforms
Many Indian brokers provide charting functionality through their web and mobile trading platforms.
Features vary and can change over time.
NSE and BSE
Official exchange resources can be useful for checking securities information, market data and corporate announcements.
Chartink
Chartink is commonly used for creating screening conditions based on technical criteria.
Screener
Screener is primarily focused on fundamental company research but can be useful when combining business research with chart analysis.
Tools should support analysis rather than replace understanding.
Can Technical Analysis Be Used for Intraday Trading?
Yes.
Intraday traders commonly use technical analysis to study short-term price behaviour.
Common concepts include support and resistance, VWAP, volume, breakouts, opening ranges, market structure and candlestick behaviour.
However, lower timeframes can contain considerable short-term noise.
Beginners should understand basic chart structure and risk management before attempting frequent short-term trading.
Can Technical Analysis Be Used for Swing Trading?
Yes.
Swing traders commonly study price opportunities lasting several sessions or longer.
They may focus on daily charts, trend structure, breakouts, pullbacks, support and resistance, moving averages and volume.
Swing trading can provide more time for analysis than very short-term intraday trading, but holding positions between sessions introduces additional risks such as overnight price gaps.
Can Technical Analysis Be Used for Options?
Technical analysis can be used to study the underlying stock or index when analysing options.
However, options contain additional variables including:
- Strike price
- Expiry
- Time decay
- Implied volatility
- Option Greeks
- Liquidity
Therefore, understanding a price chart alone is not sufficient to understand options.
Options and other derivatives can involve significant risk.
Does Technical Analysis Really Work?
Technical analysis can help traders organise market information and make decisions according to predefined criteria.
It does not guarantee future price movement.
Support can fail.
A breakout can reverse.
RSI can remain elevated or depressed.
A moving-average crossover can produce a false signal.
A chart pattern can fail.
The practical value of technical analysis is therefore not certainty.
Its value is in helping a trader create a structured process for evaluating market behaviour, possible scenarios and risk.
How Should Beginners Learn Technical Analysis?
Beginners should start with foundational concepts rather than attempting to learn everything at once.
A practical learning sequence is:
Stage 1: Candlesticks and OHLC
Stage 2: Trends and market structure
Stage 3: Support and resistance
Stage 4: Volume
Stage 5: Moving averages
Stage 6: RSI and MACD
Stage 7: Chart patterns
Stage 8: Risk management
Stage 9: Paper or simulated practice
Stage 10: Trading journal and review
This approach is generally easier to understand than starting with complex combinations of indicators.
Beginners who want a more detailed learning roadmap can read our guide on how to learn technical analysis, which explains how to progress from basic chart reading to structured practice.
How to Practise Technical Analysis
Study Historical Charts
Open historical charts and identify trends, support, resistance, breakouts, failed breakouts and different market conditions.
Then study what happened afterward.
Be careful about hindsight bias. A setup can look obvious after the outcome is already known.
Use Paper or Simulated Practice
Beginners can practise their analytical process without immediately exposing real capital.
Paper trading also has limitations because simulated execution and emotions can differ from live trading.
Maintain a Trading Journal
Record the setup, entry, invalidation or stop, target, timeframe, reason for considering the trade, result, mistakes and lessons.
A journal can help you evaluate your process over multiple observations rather than judging yourself based on one trade.
Review Losing Trades
Do not study only successful examples.
Failed setups can reveal weaknesses in analysis, execution or risk management.
Focus on One Setup at a Time
Trying to trade many different patterns simultaneously can make it difficult to understand what is actually working.
Beginners may benefit from studying one concept thoroughly before adding more.
Technical Analysis Checklist for Beginners
Before considering a trade, ask:
- What is the broader market trend?
- What is the security’s current trend?
- Where is support?
- Where is resistance?
- What does market structure show?
- What does volume show?
- Is the setup clearly defined?
- What would invalidate the setup?
- How would risk be managed?
- How much capital would be exposed?
- Is the possible reward reasonable relative to the risk?
- Am I responding to the chart or reacting emotionally because of FOMO?
If these questions cannot be answered clearly, the analysis may need more work.
Frequently Asked Questions
What is technical analysis?
Technical analysis is the study of price, volume, market structure and related trading data to understand market behaviour and evaluate possible trading opportunities.
Is technical analysis good for beginners?
Technical analysis can be learned by beginners. It is generally better to start with candlesticks, trends, support, resistance, volume and risk management before moving to advanced indicators.
Which technical indicator is best for beginners?
There is no single best indicator. Moving averages and RSI are relatively straightforward to understand, but beginners should learn price behaviour and market structure before depending heavily on indicators.
Is RSI enough for trading?
No. RSI provides information about momentum but does not form a complete trading process by itself. Trend, market structure, price levels and risk may also be relevant.
Is MACD useful for beginners?
MACD can help beginners study trend and momentum, although it can produce misleading signals, particularly during sideways market conditions.
Which timeframe is best for technical analysis?
There is no universally best timeframe. The appropriate timeframe depends on the trading or investing objective. Beginners may find higher timeframes easier to study because they contain less short-term market movement.
Can technical analysis predict stock prices?
No. Technical analysis cannot predict stock prices with certainty. It can help traders study market behaviour, identify scenarios and create structured decision rules.
What is the difference between price action and technical analysis?
Price action primarily focuses on raw price behaviour, candlesticks, market structure and support/resistance. Technical analysis is broader and can also include indicators, chart patterns and volume analysis.
Can technical analysis be used for long-term investing?
Yes. Some long-term investors use technical analysis to examine broader market trends and price behaviour while using fundamental analysis to evaluate the underlying company.
How long does it take to learn technical analysis?
Basic concepts can be understood relatively quickly, but developing chart-reading skill requires repeated practice across different market conditions. There is no fixed period after which a learner becomes consistently profitable.
Can I learn technical analysis without trading real money?
Yes. Historical chart analysis and paper or simulated trading can help beginners practise concepts before deciding whether to expose real capital.
Is technical analysis enough to make money consistently?
No. Technical analysis alone cannot guarantee consistent profitability. Risk management, position sizing, execution, trading costs, psychology and changing market conditions can all affect outcomes.
Learn Technical Analysis Step by Step
Learning technical analysis should not begin with searching for a “perfect indicator.”
Start by understanding price.
Then learn trends and market structure.
Learn to identify support and resistance.
Study volume.
Gradually introduce indicators such as moving averages, RSI and MACD.
Then learn how to combine analysis with risk management and structured practice.
Learners who prefer guided and structured training can review the Technical Analysis Course in Delhi offered by Trading Smart Edge. Compare the current curriculum, learning format, practical sessions and schedule with your learning objectives before enrolling.
If you are comparing multiple training providers, first read our guide on how to choose a technical analysis course in Delhi. It explains what to check in the curriculum, trainer, practical learning, fees and support before joining a course.
Final Thoughts
Technical analysis for beginners becomes easier to understand when concepts are learned in a logical order.
You do not need dozens of indicators.
A strong foundation begins with:
Price → Trend → Market Structure → Support & Resistance → Volume → Confirmation → Risk Management
Candlesticks, indicators and chart patterns can then provide additional context.
Most importantly, technical analysis is not a prediction machine.
Every setup can fail.
A chart can help you identify a possible opportunity, but a disciplined analytical process also requires understanding why you are considering a trade, what would invalidate the idea and how risk will be managed.
For beginners in India, focus first on understanding market behaviour. Practise the process repeatedly before worrying about finding the next strategy or indicator.
Disclaimer
This guide is provided for educational and informational purposes only and does not constitute investment advice, research advice, financial advice or a recommendation to buy, sell or hold any security or financial instrument.
Trading and investing involve financial risk, including possible loss of capital. Technical analysis, indicators, chart patterns and historical price behaviour cannot guarantee future results.
Examples in this article are hypothetical and are included only to explain technical-analysis concepts. Actual market conditions, liquidity, volatility, transaction costs and execution can differ substantially.
