Determining the direction of a particular currency over a short period of time such as 15 minutes requires the use of a combination of technical and fundamental tools and analysis. There is no surefire way to predict currency movement, but there are strategies that can help you make informed decisions:
1. Technical analysis:
Japanese Candlesticks: Analyzing candlestick patterns such as the “bullish engulfing” or “bearish engulfing” can give signals about future movement.
Technical indicators:
Relative Strength Index (RSI): If the RSI is close to 70, the currency may be in an overbought zone (it may fall), and if it is close to 30, it may be in an oversold zone (it may rise).
Moving Averages: Use short-term moving averages (such as MA9 and MA21) to monitor crossover points.
Bollinger Bands: Helps identify potential support and resistance levels.
Chart patterns: such as double tops and bottoms, channels, and triangles.
2. Volume:
A sudden increase in trading volume may indicate an upcoming strong move, either up or down.
3. Economic news and events:
Breaking news or economic data that affects a currency (such as interest rates decisions or employment reports) can significantly impact the price over a short period of time.
4. Market Strategy (Order Flow):
Analyzing the market's bids and offers (Order Book) can give an idea of the momentum and direction of movement in the short term.
5. Time analysis:
Some currencies follow time patterns (such as rising or falling prices at certain times).
6. Risk Management:
Even if you think a currency will rise or fall, do not invest more than you can afford to lose, and use stop loss orders.
note:
Financial markets (forex or cryptocurrencies) are highly volatile and cannot be predicted with complete accuracy.
Using analysis strategies does not guarantee success, but it reduces risks.
If you are a beginner, try a demo account before using real money.
Do you need help interpreting a particular indicator or analyzing a specific currency?