Forex Chart Types & Reading

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Forex Chart Types
Charts are a graphical description of forex
price activity over a specific period of time.
There are a lot of chart types but the most
favorite ones are
- Line Chart - Bar or OHLC Chart - Candlestick
Chart
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Reading Line Charts
Forex line chart is the basic type of chart and
gives a trader a chance to observe the price
changes. It consists of data points which
represent closing prices and are connected by
lines.
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Reading Bar Charts
Compared to line chart that only shows closing
price bar chart also shows an opening price,
highest price and lowest price all at the same
time. So instead of a continuous line you get
short vertical "bars" with little left and right
"tails".
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Reading Candlestick Charts
Candlestick charts have exactly the same
"features" as a bar chart with open, high, low
and close prices within one vertical bar, except
that the bar is more like a larger block which
is down right in the middle of the vertical line
and it shows the range of opening and closing
prices.
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