In this two-part article, we will discuss how to identify and conduct macro analysis without using any special indicators, simply by looking at a chart. At this point, the beginner traders scratch their heads and do not understand how a profitable strategy suddenly stopped working. As a result, when broader trends change or the market enter a consolidation phase, the systems they use cease to generate the accurate entry and exit signal. Most beginner traders look at a chart and use the combination of technical analysis tools to make trading decisions based on a single dimension, often on a single timeframe, without paying attention to the big picture. Regardless of which technical indicator or other tools we use, mastering this technique, for the most part, involves analyzing price trends and chart patterns.
The technical analysis approach revolves around evaluating and capturing mass psychology and sentiments of market participants.
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