Forex Charts Online Forex Trading Course Beginner Traders Tutorial

Forex Charts Technical Analysis Forex Meaning - Forex Charts Analysis Trading Strategies

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

How to Trade Forex Chart Analysis - How to Predict Forex Charts

Line Charts - forex line charts plot a continuous line connecting closing prices of a currency pair.

Forex Line Charts - How to Predict Forex Charts

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

Forex Bar Charts - How to Predict Forex Charts Beginner Traders PDF

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

Candlesticks Charts - these 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 to Analyze Candlesticks Forex Trading Charts

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

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

Candlesticks Charts - How to Predict Forex Charts

The color of the candlestick is either blue or red:

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

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

Candlesticks Charts vs Bar Charts - How to Predict Forex Charts

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

The Japanese candles charts techniques also have very many candlesticks formations which are used to trade the Forex Markets. These forex chart patterns have different technical analysis explanation and most common are:

Forex Charts Online Forex Trading Course Beginner Traders Tutorial Beginner Traders PDF

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