How to read price charts Forex?
Exchange rate charts, and what it means and how to use?
Many important facts and rules of discipline, trade, and not be too greedy, but it is one of the most important things:
Learn to read charts and graphs represent the cornerstone of the market.
I confess that map reading, and interpretation of trends, is more an art than a skill. Base and application of the entry and exit decisions on your own methods to combine fundamental and technical analysis.
Forex charts are easier to interpret and use it for. Because it reflects the slowing of movement, a stable economy in a country, compared to the stock market, with its daily drama of company reports and Wall Street analysts and shareholder demands.
Unlike stocks, currency, maps do not spend much time in trading ranges and tend to develop strong trends. In addition, their currencies with the mayor of 4 Forex is easier to analyze than tens of thousands of shares.
(Mayor currencies are: USD / JPY, EUR / USD, GBP / USD and USD / CHF)
On free software free real time charts, with the advanced technology provided by http://www.fenixcapitalmanagement.com/ final, enough of everything for you to analyze and monitor any currency pair. Perhaps including some key points about the technical analysis of currency board led to increased profit potential.
Price - Price reflects the perceptions and actions taken by market participants. It is the interaction between buyers and sellers in over-the-counter (OTC) or 'interbank' that creates price movement. Therefore, the adversary quickly all the fundamental factors in the price. Through the study of price charts, and you see the heart indirectly psychology, and the market at a time, after being fed each market by two emotions - greed and fear - and as soon as we understand it, then start to understand the psychology of the market and how they relate chart patterns.
Graph Data window - FCM and most online drawing stations, and when you click on the price bar or candlestick, it displays a small box of data usually called a display window that will contain the following elements:
H = price of the upper part
L = Low Price
O = Opening Price
C = the closing price (or the last price)
The most common types of price bars, used in Forex trading, is a bar chart and candlestick chart:
Bar charts -
Price bars are the linear representation (line) for a period of time. This allows the viewer to see a table summarizing the activity of a specific time period. For example, I use 10 minutes, 60 minutes per day, and the time interval for my systems. Each bar has similar characteristics and tells viewers the important information.
First, at the highest point of the bar represents the highest price has been achieved during this period. The lowest point of the bar represents the lowest price during the same period. Regular bars display a small dot on the left side of the bar that represents the price of the opening period and the small dot on the right side represents the closing price of the period.
Japanese candles are used, or simply torches, as they are known today, to represent the same information in the form of price bars - candlesticks. The only difference is that the difference between open and close form the body of a box that is displayed with the interior of color. The red color means that the document was less open, and blue represents a document that was higher than the open air.
If the box contains the line of ascent of the box which shows the rise and is called the wick. If the box has a line to the bottom of the box, and it is weak and is called the tail.
And can be many interpretations of these "candlesticks" and has written several books on the art of interpreting these bars.
Periods of time frames and provided:
Under the plan and the extent and duration, or time to time, and refers mainly to a period of time that elapses between the opening and closing the bar or candlestick.
For example, a program with your broker, you will be able to view the currency pair, in a period of hours during the two days, a period of five days, a period of 10 days and 20 days period and 30 - time of day.
Are used mostly for short-term (5 - minute charts 1 minute) to get the points of entry and exit and long term periods of time (1 hour and daily charts) are used to see where the general trend.
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