Candlestick Charts in Forex Charting
Candlestick charts show the same information as a bar chart but in a graphical format that is more fun to look at. Candlestick charts indicate the high and low of …
Read MoreAuthor: Forex Unit
Bar Charts in Forex Charting
A bar chart shows us a price bar for each period of time. So if you are looking at a daily chart you will see a price bar for each …
Read MoreLine Charts in Forex Charting
Line charts are good at giving you a quick view of overall market trend as well as support and resistance levels. They are not really practical to trade off of …
Read MoreThe myth of Automated Forex Trading Systems
While we are talking about different ways of trading the Forex market, I want to touch on what I feel is a widely believed “myth†regarding automated robot and indicator-based …
Read MoreRange-bound Market Trading in Forex
When a market is in a trading range it means that it is consolidating between a level of support and resistance. We can use the fact that a market is …
Read MoreCounter-trend Trading in Forex
Since trends do end, we can also take advantage of this information. However, counter-trend trading is inherently riskier and more difficult than trading with the trend, so it should only …
Read MoreTrend Trading in Forex
Trending markets offer us the best opportunity to profit, since the market is clearly moving in one general direction; we can use this information to our advantage by looking to …
Read MoreHow to Identify and plot Support and Resistance Levels
Support levels are created as a market turns higher. So, if a market is moving lower for example and it then changes direction and begins moving higher, it either has …
Read MoreUnderstanding Forex Currency pair Quotes
You will need to understand how to properly read a currency pair quote before you start trading them. So, let’s get started with this: The exchange rate of two currencies is quoted …
Read MoreThe Major Forex Pairs and Their Nicknames
If you are looking to trade forex, you should know what the major forex pairs are and their nicknames. The chart below shows the major forex pairs and their nicknames.
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