The Types of Forex Charts - ForeXposed

Latest

Exposing Forex World

Sunday, September 3, 2017

The Types of Forex Charts



The Types of Forex Charts
Because the routines in forex trading, later you will not be detached from the graph, then ruled the charts and understand how to read the graph 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 just use the gas and brake, and we see how the result!!

There are a variety of types of graphs that are used when you trade in forex. But broadly speaking, forex charts is composed of several types: 

    Line Chart.
    Dot Chart.
    Bar Chart.
    Candlestick Chart.

Here is a picture of each graph:

The Types of Forex Charts
Line Chart
The Types of Forex Charts
Dot Chart
The Types of Forex Charts
Bar Chart
The Types of Forex Charts
Candlestick Chart
If in your school you're familiar with Bar Chart and Line Chart, candlestick and dot may sound not familiar to you. The bad news, you will use Candlestick along the forex lessons. The good news is it's not hard to learn.

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 resistance), while the other is used to simplify the movement of particular currency fluctuations. Don't worry, even without the need to learn the graphs studies, any time you can make a profit on forex trading. Sooner or later, later you will learn that the biggest determinant of profit is the mental attitude, it’s always ready and discipline.

A 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 very limited in certain environments. This is due to the information conveyed in Line Chart and Dot Chart is not as complete as the Candlestick Chart and Bar Chart.

Candlestick, in addition to being able to inform the price movement on a particular hour, read it much easier due to adding color to the graph. Thus you no longer need to distinguish whether the graph being analyzed is the 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.