Due to Your daily trading in the future will not be separated from the
graph then ruled the charts and understand how the reading of the charts
is the thing that should not be ignored. Forex trading without being
able to read the graphs? It is just the run of the vehicle without the
steering wheel! So enough gas and brake only and we see how
results. There are a variety of types of graphs that are used when you
trade forex. But generally the forex charts is composed of several
types:
- Line Chart
- Bar Chart
- Candlestick Chart
There are also some other custom graphics that are very rarely used by
novice traders. Some types of graphs designed to predict price movement
limits (support and ressistance) while the other is used to simplify the
movement of a particular currency fluctuations. Don't worry, even
without the need to familiarize yourself as the graph of Sciences you
can make a profit on forex trading. Sooner or later it later you will
learn that the biggest determinant of profit is on the mental attitude
that is ready and discipline. Bar chart is more often used by American traders in analyzing currency movements. While Asian and European traders more often using Candlestick in doing technical analysis. For Line charts and Dot Chart its use was very limited in certain environments. This is due to an informai delivered on line chart and the Candlestick chart is not as complete as the dot and Bar Chart.
Candlestick itself in addition to being able to inform the price movement on certain hours, reading a lot easier due to add color to the graph-graph by. Thus you no longer need to distinguish whether the graph is being analyzed is the graph of the graph goes up or down.
The next lesson we will learn how to read a Candlestick. A graph that is not known to us in the everyday world yet very common in forex.
