Forex

Each price is the momentary consensus of value of all market participants. It
shows their latest vote on the value of a trading vehicle. Any trader can "put
in his two cents' worth" by giving an order to buy or to sell, or by refusing to
trade at the current level.
Each bar on a chart reflects the battle between bulls and bears. When bulls
feel strongly bullish, they buy more eagerly and push markets up. When
bears feel strongly bearish, they sell more actively and push markets down.
Each price reflects action or lack of action by all traders in the market.
Charts are a window into mass psychology. When you analyze charts, you
analyze the behavior of traders. Technical indicators help make this analysis
more objective.
Technical analysis is applied social psychology. It aims to recognize
trends and changes in crowd behavior in order to make intelligent trading
decisions.