How to read forex charts ?

how to read forex charts

Forex Charts – how to read.

• Currency traders are able to watch real-time movements in the market showing price and volume displayed on forex charts.

• Although these charts may at first appear confusing, most people quickly learn how to understand what they mean.

• Our charts have red and blue bars called “candlesticks”. These candlesticks can represent any currency pair the trader chooses to view.

• The candlesticks can be changed to represent various increments of time such as a minute, an hour, a week, a month, etc.

• Blue candlesticks indicate that the currency rate has gone up in value. The scale on the right side of the chart displays the rate that the currency pair is trading at.

• Red candlesticks indicate the currency rate has dropped.

• The scale along the bottom of the forex chart shows the precise time of day or night.

• Currency prices are dynamic often moving up or down. These movements represent equal opportunities to make a profit. As in other markets, profits are made when a trader recognizes the right opportunity to buy or sell. So how can a Forex trader know when it’s a good time to enter or exit a trade? Let us show you.

If the Charts Go Up We Could Buy

• The decision to buy or go long based on an upward movement in prices must still be confirmed by the trader. This is where our recommended confirmation can be quickly applied to the situation.

If the Charts Go Down We Could Sell

• The decision to sell or short a currency based on the downward movement in prices must still be confirmed by the trader. Again, our confirmation steps can be quickly applied to determine an appropriate course of action.

• Without any additional software, traders are able to easily follow technical indicators programmed directly into their live currency charts, that display up and down color-coded arrows, clearly showing when a trend is about to emerge or reverse.

• By applying a few simple principles, even the most inexperienced traders can quickly learn to confirm a trend before entering a trade.

Trend Following System

• Thanks to extensive development and technological innovation, we can now offer traders a powerful edge in analyzing market conditions before taking a trade.

Trade Station

• When a trader decides to execute a trade, they can instantly input the precise details of their buy or sell position on their online trading platform.

• The trading platform gives traders a live connection to the broker.

• The dealing rates in the upper left hand corner of the trade station change to reflect rate movements displayed on the forex charts.

• As soon as a trade is taken, the information appears on the screen.

Demo accounts operate exactly like live, real-money accounts.

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