What Forex Chart Should I Trade With?

The most popular forex charts in the Forex Market are : Line charts, Bar charts and Candlestick charts.

As a beginner trader wanting to know which forex chart you should trade with the advantages of the Candlesticks charts are explained below - which makes the candlesticks charts the best choice of forex trading with.

The forex candlesticks are easy to use as compared to line charts or bar charts.

How to Read Forex Candles Charts

Forex Candlesticks Charts - these forex candlesticks charts use the same price data as bar charts (open, high, low, and close). However, these forex candlestick charts are represented in a much more visually identifiable way which resembles a candle with wicks on both sides.

How to Interpret Forex Candles Charts

The rectangle part of the candle stick is called the body.

The high & low of the candlestick are described as shadows and plotted as poking lines.

Forex Candles Charts - How to Read Forex Candlestick Charts for Beginners Guide

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

• (Blue or Green Color Forex Candlesticks) - Prices moved up
• (Red Color Forex Candlesticks) - Prices moved down

Most Forex platforms like the MT4 Software, use colors to mark the direction of the price represented using the forex candlestick. Forex Candlesticks colors used are blue or green colors; when price moves up, color of forex candle is blue: when price moves downward, color of forex candlestick is red.

Forex Candlesticks Charts Vs. Bar Charts - How to Read Forex Candlesticks Charts

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