How To Read Forex ChartsAs a Forex Trader, the first weapon you need is a price chart. Read on to learn how to read Forex charts.There are three main types of Forex charts: * Line charts First, every forex chart will have a horizontal axis and a vertical axis. The horizontal axis represents time and the vertical axis represents price. See the chart below:
Candlestick charts give us candlestick patterns, which give us our buy/sell signals. As you become more confident with forex trading and grow more adept at reading charts, it will soon become second-nature to you. You will be able to log onto your charts, analyze the overall daily trend, then the hourly trend, mark up levels of support and resistance, then from that you'll see areas of the market to watch. Buy and sell signals form in these areas and -BAM!- the next thing you know, you're trading the forex market! It's incredibly exciting. But - one step at a time. First you need to master the art of the charts, to get some quality buy and sell signals. For this, you'll need a good
demo account.
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