How Do You Predict Forex Charts using Charts Patterns Analysis?

How Do You Predict Forex Charts Movement using Charts Patterns Analysis?

There are three types of charts used in Forex: Line Chart, Bar Chart and Candlesticks Chart - How Do You Predict Forex Charts.

How Do You Predict Forex Charts?

Line Charts forex line charts plot a continuous line connecting closing forex prices of a forex instrument.

Forex Line Charts - How Do You Predict Forex Charts

Forex Bar Chart - forex bar charts are displayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW and CLOSE. Opening forex price is displayed as a horizontal dash on left & closing forex price as a horizontal dash on right.

Forex Bar Charts -

The main disadvantage of forex bar chart is that it is not visually appealing, therefore most traders don't use them.

Candlesticks Charts - these forex candles charts use the same price data as forex bar charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle that has wicks on both ends.

How Do I Analyze Candlesticks Charts?

The rectangle part of the forex trading candlestick is called the body.

The high & low of the forex candlestick are called as shadows and are drawn as poking lines.

Candlesticks Charts

The color of the forex trading candle-stick is either blue or red:

• (Blue or Green Color Candlesticks)
• (Red Color Candlesticks)

Most Forex trading platforms like the MT4 Software, use colors to mark the direction of the forex price. Forex Candles colors used are blue or green: when price moves upwards, color of forex candlestick is blue: when price moves downward, color of forex candle is red.

Candlesticks Charts vs Bar Charts

When Forex candlesticks charts are used it's very easy to see if the forex price moved up or down as opposed to when forex bar charts are used.

The Japanese candles charts trading techniques also have very many candles formations that are used to forex trade the Forex Trading Markets. These forex chart patterns have different FX technical analysis interpretation and the most common are:

Forex Charts Online Trading Course Beginner Traders Guide Beginners

The above forex candlesticks patterns is what makes the Japanese candlesticks chart patterns popular among forex traders & it is why this type of forex chart analysis forex technical analysis are the most widely used when it comes to analyzing the forex market.

How Do You Predict Forex Charts using Charts Patterns Analysis?