There are many traders that often lose their money in the market just
because they don’t know how to predict the market progress. As you
know, forex trading is very volatile, means that the currency can
change its state is fast movement. It can raise very fast and suddenly
turns down reaching the bottom. For those who can’t predict the market
it will bring great loss. Actually, you don’t need to loss at all if you
can use the tools the forex market provides for you.
The Use of Forex Chart
Each forex market has large monitor displaying charts. The chart is the progress of the currency in the market. A beginner trader can effectively predict the progress by simply watching the forex chart. So, it is important for you to know how to read the forex chart and use it for your own profit.
Type of Forex Chart
The first type of the forex chart is candlestick chart. In this type of chart you will see four variables are being updated every minute, the variables are high and low price, the opening and the closing price. You may also need to the history of the chart to identify what each color of the candlestick chart means. The second type of chart is the bar chart. This figure is easy to recognized because it has a bar body. The bar chart brings the same variables like candlestick charts but it is better in presenting the information you need. The last forex chart is line chart. This is the simplest chart of all. It contains only a single line of forex chart informing a single price a given time period.
The Use of Forex Chart
Each forex market has large monitor displaying charts. The chart is the progress of the currency in the market. A beginner trader can effectively predict the progress by simply watching the forex chart. So, it is important for you to know how to read the forex chart and use it for your own profit.
Type of Forex Chart
The first type of the forex chart is candlestick chart. In this type of chart you will see four variables are being updated every minute, the variables are high and low price, the opening and the closing price. You may also need to the history of the chart to identify what each color of the candlestick chart means. The second type of chart is the bar chart. This figure is easy to recognized because it has a bar body. The bar chart brings the same variables like candlestick charts but it is better in presenting the information you need. The last forex chart is line chart. This is the simplest chart of all. It contains only a single line of forex chart informing a single price a given time period.
