Basic Understanding of Forex Charts of Forex Trading Money


What is forex chart?




It is a chart that shows us about price of currency from period to period.


Is it important?


Yes, of course, that is important to us. If we are trader or broker, we need information about currency’s price, and we can get information about price of currency from chart.


Forex charts influence trader and broker to make decision. Only see the chart trader or broker will know how to make right decision in order to they get benefit.


When a trader must see a forex chart?


As long as they do trading, they must see forex chart. Maybe it is sounded crazy but trader must do it. Trader can get loss because they do not watch the chart, vice versa.




There are three forex charts that have different meaning, They are:



1. Line Chart


It shows the line that connect closing price from period to the next period. It only shows closing price. So, we only know about the closing price from period to period and can not see opening price


2. Bar Chart


It shows position of opening and closing price with lowest and highest price. It is complete chart, because it shows not only about closing price but also opening price. So, we can know about closing and opening every time we want. For trader, knowledge of opening and closing price is important to be known. All prices influence trader’s decision. Bar chart also gives information about lowest and highest price from each categories (opening and closing).


3. Candlestick Chart


Actually it is similar with bar chart, but candlestick chart is better than bar chart. We can say that candle stick chart is more beautiful than bar chart. Candlestick chart is extra ordinary chart, and it is different with bar chart that ordinary chart.


Maybe, as a trader or broker we will choose candlestick chart because it is more nice views.


Incoming Forex terms:

basic understanding of forex online

candle stick basic understanding

UNDERSRANDING CHARTS IN FOREX

understanding candles chart in forex trading

understanding forex charts