The most important types of fx charts
Fx charts are the most fundamental aspects of FX analysis, and there are several ways to display fx charts. However, the choice of fx charts is dependent on the analyst concerned, preferring any scheme that provides the best signal at the early stage
And it is also important to note that some Forex brokers provide charts, as part of their trading platform, while others do not
The Fx line chart is the simplest chart of the Forex charts, representing the Y axis of time while X-Axis displays the price, and we can plot the market position in minute, hour, 15 minutes, day, week or even monthly basis, and this type of graph displays the closing price only
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The biggest advantage of a linear plan analyzer is its simplicity, the ability to understand price movements very easily, and the linear chart also shows trends by simply observing the slope
The bar chart uses vertical bars to display the price action for a given day, with the help of a line from the lower to the highest price, where the bar represents the opening, highest, lowest and the actual close price of the day.
fx charts allow traders to see patterns easily, and fx charts are a set of four prices on a certain day, And is also referred to as the price bar
Differs in the way they are visually constructed, where fx charts are drawn over a single day, weekly, and monthly period, providing a detailed picture of the longer price movement, and fx charts displays a thick object called the real body, which is the thick line that extends above and below the shadow, The bottom of the upper shadow represents the high price, the bottom of the lower shadow represents the low price, and the opening and closing values are based on the upper and lower border of the candle body.
Fx traders usually use this type of chat in common to execute and open trading position rather sell or buy and applying a different type of trading strategies such as fundamental, technical, numerical analysis
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In summary, there are many fx chart charts for technical analysis in the Forex market, although candlestick charts are the most widely used in Forex, followed by line charts and bar charts. It is worth mentioning that all fx charts of these charts come with its advantages and disadvantages, Although all fx charts can be used as a result of personal preference or perceived accuracy by the trader