Nowadays, when it comes to trading, technical analysis has become popular with the growing use of personal computers. All traders need to do is opening their trading platforms and using technical analysis tools on different currency pairs and financial markets. However, in the early days of technical analysis, it was not this easy. Developing trend indicators or oscillators was … [Read more...] about How to Trade with Line Charts
Point and Figure Charts (P&F) has been described as one of the simplest systems that help traders determine solid entry and exit points, usually in long-term investment markets such as stocks. P&F charts are used to monitor supply and demand while keeping an eye out for developing trends. The P&F charts differ from other charts, as they do not account for the … [Read more...] about Point and Figure Charts Explained
Many traders or forex robots work with time-based charts when it comes to technical or fundamental analysis. With time-based charts, a candlestick often represents price action over a given period. For instance, one bar could represent price action over one minute, five minutes one hour, or one day. In addition to time-based charts, forex tick charts are becoming … [Read more...] about Tick Chart vs. Time Chart: Which One Should You Use?
Renko charts are a trading utility that helps the trader to exploit the price trend for profit. The charts appear like bricks where a green or white brick represents an upwards price movement. On the contrary, a red box shows that the price is falling. Particularly, Renko charts have a smoothing effect; they do not focus on small price movements. The indicator only … [Read more...] about Guide To Using Renko Charts for Profitable Forex Trading
Technical analysis in the foreign exchange market is based on the theory that market history, the movement of currency charts is constantly repeated, which means the repetition of events of the same type that have already occurred in the past. A pattern is a graphic drawing that makes it possible to predict the future movement of quotes. In this article we will analyze the most … [Read more...] about How to use Forex Chart Patterns