How Do You Analyze Various Types of Charts?
How Do You Trade Various Types of Charts?
There are Three types of charts: Line chart, bar chart & candle chart.
Forex Candlesticks Charts - the candlesticks charts use the same price data as bar charts (open, high, low, & close). However, candlesticks charts represent the charts in a much more easily identifiable way which resembles a candle with wicks on both ends.
How Do You Read Candlesticks Charts?
Rectangle part of the candle is known as the body.
The high and low are described as shadows & are drawn as poking lines.
How Do You Interpret Different Types of Charts?
The color of trading candle is either blue or red
- (Blue or Green Color candle-stick) - Forex price moved up
- (Red Color candle-stick) - Forex price went down
Most softwares like the MetaTrader 4 platform, use colors to mark the direction of price. Colours used are blue or green: - green candlestick when price moves up-ward, red candlestick when price moves downwards.
What is a Line Charts?
A line chart in Forex draws the closing price of a instrument and connects this closing price to the closing price of next time period therefore forming a continuous line chart which draws the movement of price movement.
Line Chart - draws a continuous line connecting closing prices of a on the price chart.
How Do You Interpret Different Types of Charts?
What is a Bar Charts?
Bar Charts are charts representation of price highlighted as sequence of OHCL bars. O H C L represents OPEN HIGH LOW & CLOSE. The Opening price is displayed as a horizontal dash to the left & closing price as a horizontal dash to the right.
How Do You Interpret Different Types of Charts?
How Do I Interpret Different Types of Charts?
