Technical analysis involves studying past market data, primarily price and volume, to forecast future price movements. It's a crucial tool for making informed decisions in intraday trading.

Technical analysis is based on three key principles: price discounts everything, prices move in trends, and history tends to repeat itself. These principles guide intraday trading strategies.

Common indicators include moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and Bollinger Bands. These help assess trends, momentum, and volatility in intraday trading.

Candlestick patterns, such as Doji, Engulfing, and Hammer, are vital for recognizing market sentiment. These patterns help traders spot potential reversals or continuations in short-term trades.

Support is the price level where a downtrend can pause, while resistance is the level where an uptrend may stall. Identifying these levels is key for setting entry and exit points in intraday trades.

Effective risk management includes setting stop-loss orders and maintaining risk-to-reward ratios. Limiting losses and protecting profits are essential for consistent success in intraday trading.

Successful intraday trading relies on discipline, analysis, and proper strategy. Combine technical analysis with sound risk management to navigate volatile markets and improve your trading outcomes.