Aim to be a sunshine Nanami and a professional trader! Learn FX with Nanamin Episode 7
Actress and investor Nanami Hiwa joins forces with FX specialist Yasushi Yamanaka to learn with everyone what is necessary to profit in Forex and improve trading results. In this edition, we will also cover the basics of technical analysis.
*This article is a reprint and revision of an article from FX攻略.com January 2020 issue. Please note that the market information written in the text may differ from current market conditions.
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【Table of Contents】Aim to Become a Professional Trader: Learn FX with Nanamin
Yasushi Yamanaka’s Profile
Yamanaka Yasuji. Joined American Bank in 1982, promoted to vice president in 1989, proprietary manager in 1993. Joined Nikko Securities in 1997, head of Foreign Exchange Fund Department at Nikko Citi Trust Bank in 1999. Founded Ascendant Co., Ltd. and became a director in 2002.
Official Blog：Ascendant / FX information delivery site provided by Yasushi Yamanaka
Twitter：https://twitter.com/yasujiy
Nanami Hiwa’s Profile
Hiwa Nanami. Formerly Nonaka Nanami, renamed to Hiwa Nanami. Affiliated with Tezuka Koji Office. She is active as an actress and investor, appearing in films, stage plays, and commercials, and hosting a regular program on Radio NIKKEI. Her blog updates daily trading activities.
Official Blog：FX Actress Arrives! Nanamin the Rising Actress’s Serious Real-Time Trade Diary
Twitter：https://twitter.com/himnas03
Support and Resistance Lines
HiwaThis project, where we are having Mr. Yamanaka impart FX knowledge, now moves to the second part of technical analysis: “ Trends and Chart Patterns.”
YamanakaTrends are very important, and there is a market adage: “The trend is your friend.”
HiwaThat means trends are indeed very important.
YamanakaThis time we will explain the basics of trends and chart patterns. First, there are terms like support and resistance. Support refers to previous lows. In other words, a line connecting the lows is called the support line. Conversely, resistance is based on previous highs, and the line connecting the highs is the resistance line. The key point is that when the price breaks below a support line, that line often becomes a resistance line, and the same applies in the opposite direction.
HiwaFor example, when a price band that has repeatedly functioned as support is broken below, it tends to transform into a strong resistance line.
YamanakaThat’s right. When price crosses the level that previously could not be penetrated, be careful.
