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
Charts
Tick Chart vs. Time Chart: Which One Should You Use?
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?
Guide To Using Renko Charts for Profitable Forex Trading
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
How to use Forex Chart Patterns
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
How to Choose the Best Forex Charting Software
The foreign exchange market, called forex, is one of the most extensive and liquid globally. Millions of traders put their capital in the market, hoping to earn a profit. However, the depth of the market and complexities require that the trader becomes familiar with specific items like charts. Notably, the significance of charts is inestimable because of the extent they go to … [Read more...] about How to Choose the Best Forex Charting Software
