FOREX CHARTS

TYPES OF FOREX CHARTS

There are several types of chart FOREX commonly known and we must understand it, to be able to perform technical analysis in FOREX trading because it will not escape from the chart, then must know control charts to understand how reading is a very important thing, to look at a chart you can access at www.netdania.com website provider of real time charts for free online FOREX, there are various types of charts used in FOREX trading:

1. Line chart

2. Dot chart

3. Bar chart

4. Candlestick chart

              bar chart is more often used by traders in the United States to analyze the movement of currencies, while traders in Asia and Europe is more often used in conducting technical analysis candlestick, for line charts and dot charts its use is very limited and only certain circles, this is due to information presented in line charts and dot charts are not as complete candlestick and bar charts, most traders prefer to use the candlestick, as the candlestick has a view that is easy to read, consisting of: high, low, open, and closing price, otherwise it is able to provide information price movements at certain hours, the reading is much easier because there are colors on the chart, candlestick interpretation based on "pattern" that is, a green candle (blue) means: the price moves up or closing price of greater value than the opening price, on the contrary red candle means: the price goes down or closing price is lower in value than the opening price, highest price and lowest price can be determined by vertical lines, above and below the candle, in the example above is the lowest and highest price for each hour, for the period is used every hour, if using the term bullish and bearish, then the green is a bullish pattern, and red is bearish pattern

TREND

In trading profits can be obtained when the price moves up or down, the price trend is moving in one direction is called: the trend, the trend is the most important part to determine the position of trading, in trading there are only two positions that buy and sell, the trend also has only two types, namely, up trend and down trend, technical analysis, moving averages are used to predict trends, and the extent to which the trend will last, but sometimes the market does not move up or down, the situation is called "side-way", avoid trading on the state side way, because only drain patience, and there will be no results when we open to sell or buy, a situation usually occurs when the side way European or American markets are closed, or waiting for big news, in such circumstances is not much trading going on, thus causing the side-way situations