The final type of chart is a mountain chart.
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This is the same as a line chart, except the area beneath the line is shaded, giving it the appearance of a mountain in silhouette. Like line charts, this type is mainly used to assess long-term trends, as the high, low and open prices for each period are not on show. While this guide has introduced the basic concepts you need to know to read forex charts, many experienced traders use more advanced technical analysis to forecast price movements. Find out more about technical analysis.
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How to read a Forex trading chart?
Related search: Market Data. Market Data Type of market. Analyse and learn Strategy and planning How to read forex charts. How to read forex charts. Chart Candlestick Technical analysis Chart pattern. Will Hall-Smith Senior financial writer , London. What is a forex chart? How to read different types of forex charts Forex traders tend to choose between four main types of chart — candlestick, HLOC, line and mountain — each of which is read in a different way. Candlestick chart Candlestick charts display pricing information in long, thin bars that resemble candles.
In addition, each candlestick will show four specific prices for the currency pair: Open: the price at the start of the period Close: the price at the end of the period High: the highest price traded during the period Low: the lowest price traded during the period. Line chart Unlike a candlestick or HLOC chart, a line chart only shows the close price for the time period you have selected eg one hour.
Mountain chart The final type of chart is a mountain chart. Using technical analysis to forecast FX prices While this guide has introduced the basic concepts you need to know to read forex charts, many experienced traders use more advanced technical analysis to forecast price movements. Explore the markets with our free course Discover the range of markets you can trade on - and learn how they work - with IG Academy's online course. Try IG Academy. Turn knowledge into success Practice makes perfect. Try it out. This is indicative of indecision in the market, with neither buyers nor sellers able to assert sufficient influence over the direction of price movements.
Taken on its own, a doji is a neutral pattern of little significance. However, if a doji forms within an uptrend or downtrend, it may indicate that a reversal is on the way. To learn more about chart patterns, join IG Academy. Unlike a candlestick or HLOC chart, a line chart only shows the close price for the time period you have selected eg one hour. The close prices are joined together so that the consecutive points form a line. This is a very simple way to display pricing data as it does not give any indication of what the high, low or open price for the period was.
For this reason, many forex traders only use line charts when assessing long-term trends, where some of the additional information may not be quite as relevant as it is when trading short-term patterns. The final type of chart is a mountain chart. This is the same as a line chart, except the area beneath the line is shaded, giving it the appearance of a mountain in silhouette.
Like line charts, this type is mainly used to assess long-term trends, as the high, low and open prices for each period are not on show.
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While this guide has introduced the basic concepts you need to know to read forex charts, many experienced traders use more advanced technical analysis to forecast price movements. Find out more about technical analysis. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at for matters arising from, or in connection with the information distributed.
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Inbox Community Academy Help. Log in Create live account. Related search: Market Data. Market Data Type of market. Analyse and learn Strategy and planning How to read forex charts. How to read forex charts. Chart Candlestick Technical analysis Chart pattern. Will Hall-Smith Senior financial writer , London. What is a forex chart? How to read different types of forex charts Forex traders tend to choose between four main types of chart — candlestick, HLOC, line and mountain — each of which is read in a different way.