Forex chart explained

Forex Charts Explained ! The forex charts that you'll be using for your trading, depending on the forex system that you're using, Different forms of forex charts and advantages vs. disadvantages of each. Forex charts come in three main forms and each has their own distinct look

Forex bar chart (OHLC Charts) and Basics
Bar charts in each time slot is shown as a vertical line. They are also known as OHLC bars, which for open, high, low, close bar represents. High and low are respectively the highest or lowest price that the currency pair has achieved over the period of the bar. A horizontal line on the left is the opening price. A horizontal line on the right side indicates the closing price.

Trading with Metatrader platforms such as can the bar higher as they include the open color different from those that close lower than open them. This can help identify trends. Depending on which time period (time frame) is selected, a bar for a period of one minute to stand for a month. The current time frames are M1 (one minute), M5, M15, M30, H1 (one hour), H4, D1 (one day), W1 (one week) and MN (one month)

Between bar charts and candlestick is no technical difference. You can just select the chart type that one is better.

Forex chart lines
Line charts only in the closing price is displayed. Thus you can not see the price fluctuations within the period. Therefore, this chart is somewhat less accurate and more suitable for beginners. But even experienced traders use line charts to draw in support or opposition, and other chart patterns. Even though the Forex does not close during the week, closing prices are of great importance, since many traders guided by them. Because no highs and lows are shown, but miss important information is lost because you can not see, for example, when the price breaks through a specific brand, but returns.

Forex Candlestick Chart
Candlesticks Charts Explained Candlestick charts were derived over 200 years ago Candlesticks are from Japan of the 18th Century and in Europe until the 20th Century introduced. There are over 21 variations of the chart and forex traders suggest pairing a candlestick chart analysis with other trend indicators and fundamentals
They consist of a "body" and the "shadows" that is, the thin lines above and below the candle.

The "body" is the spread between opening and closing price. If the opening price below the closing price results in a white candle. On a day with losses is thus a black candle. If the price closes above the open, there is a white candle.
The "shadow" arising from the above price movement (wicking) or below (sliver) of the span between the opening and closing price.
The Japanese have developed for all possible types of candlesticks own name. More Articles in candlestick analysis.