In this article I am going to talk about different forex price chars and technical indicators. This stuff is very important to know, if you are trading forex and you should know this, if you want to become a successful trader. So here we go.
Price Chart Types
Bar charts
Bar charts are the most common type of chart, which shows the action of a price. Each bar indicates a certain period of time. A period can be from 1 minute up to several years time. Bar charts can show patterns, that happened long time ago.
Candlestick charts
Candlestick charts show the high, low, opening and closing price for specific period of time. These types of charts can provide great visual details.
Point & figure charts
Point & figure charts are mainly used to mark changes in price movements. These charts are not associated with any specific period of time, and they do not represent any particular pattern.
Technical Indicator Types
Trend
Trend indicators make it easier to analyze price movements, so you can clearly see when it goes up or down, average price, etc.
Strength
Strength indicators show the intensity of market opinion on a certain price by examining the market positions taken by various market participants.
Volatility
Volatility directly refers to day-to-day price fluctuations. If there occurs any changes in volatility that means the price has changed.
Cycle
Cycle indicators represent repeating market patterns from recurrent events such as seasons or elections. These indicators determine the timing of a specific market pattern.
Support/Resistance
Support and resistance indicate the price levels where markets repeatedly rise or fall and then reverse. This phenomenon is attributed to basic supply and demand.
Momentum
Momentum indicators show how strong or weak a particular trend was during a specific period of time. Momentum is highest when a trend starts and lowest when the trend changes.
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