Forex Ratings offers a professional Forex Chart tool with a wide range of customizable parameters. This new interactive forex tool will provide Forex traders with useful market information, no matter what experience level they have. Watch the Forex Charts and Forex Quotes move dynamically, without the need to reload the page. You can switch between any of 19 forex currency pairs and select necessary time periods. The selected candlestick interval can be set up between 1 minute and 1 month. You can also choose between different high and low zones with one click. Experienced traders will also find important features of our forex trading charts tool as our forex charts tool covers 19 most popular currency pairs on the Forex Market.
In a nutshell, it is a type or a style of bar-chart, which describes the movements of prices of equities, over a period of time and is a combination of a line-chart and bar-chart, with each bar representing the price movement range, over a given interval of time. This type of chart is most frequently used in the technical analysis of equity price patterns.
Whilst the exact history of the candlestick chart is not 100% clear, they are reputed to have been most effectively used by a successful Japanesericetrader called, Munehisa Honma, who made an absolute fortune, with their usage, in the 17th century and these charts gave him (and others) a clear snapshot of open, high, low, as well as close market prices over a given time frame.Using candlestick charts, for charting, has become one of the most popular means, for technical analysis, of financial movements/signals, due to the ease in being able to read the charts and understanding the graphs.From the 17th century, much effort has gone into relating the chart patters – to predict the likely future market tendencies and this method, of price charting, has become interesting, because of the ability to display four data-points, instead of just one. Moreover, the Japanese rice traders found that the resulting charts could, more or less, predict with accuracy, future demands for their rice.Candlestick charting was only really introduced, to the US, in the early 1900’s by a Mr. Charles Dow who developed a different approach to technical analysis, with the candlestick charts; whilst retaining many of the original guiding principles, which were:
The candlesticks themselves and the formations they shape were given colorful names by the Japanese traders. This was, in part, due to the military environment of the Japanese feudal system during this era, candlestick formations developed names such as the "advancing three soldiers".
Candlesticks are, as a rule, made up of the body, which may be black or white, with an upper and a lower (the wick) shadow. The wick points to the highest and the lowest traded prices of a stock; and the body, the opening and closing trades. When the stock moves up – the body is white, with opening price at the body’s bottom and the closing price at its top. If the prices went down, then the body is black – with the opening price at the top and the closing price at the bottom. However, a candlestick does not, necessarily, need to have a neither a body nor a wick.
As I mentioned earlier, in this article, many traders prefer candlestick forex charts, primarily because they are more aesthetically appealing to the eye and, moreover, they have the distinct advantage of being far easier to interpret. Why? Because each candlestick provides an easily decipherable snapshot of the price action – a trader can immediately see and compare the relationship between the open and the close; together with the high and low.
The relationship, between the open and close is of vital information to a forex trader and this forms the very essence of candlesticks. With hollow candlesticks, where the close is greater than the open – indicates buying pressures. With filled candlesticks, where the close is less than the open – indicates selling pressures.
The yield of the benchmark 10-year Treasury note reached 3 percent in the previous session, a level not seen since January 2014. Gary Pollack, head of fixed-income...
A synthetic cross currency pair refers to an artificial combination of currencies usually not available in the market. If you are taking your first steps in the Forex market...
The Forex market is not a scam. In fact, it is an amazing place to make money. Unfortunately, dirty scammers (which operate not only in the Forex market...
Trading with real money should be viewed as a serious business. As such, you should take the time to ensure that you thoroughly understand the most basic...
Being over-the-counter products, there are a great many differences in the specifications of contracts available as CFDs. If you are trading these products...
Cryptocurrencies have been in the spotlight in 2017, and their uptrend is still not over. Last year in April, Bitcoin- the main representative of cryptocurrencies...
When it comes to risk management, everything counts. And defining the right size for your position plays a key role in the equation. Intuitively...
There are so many Forex blogs out there. Sometimes I think too many actually. But some of them are pretty useful (like ours, of course) and a common...
While traders frequently commit an inordinate amount of time to selecting, planning and executing new positions, they often make the mistake of exiting..
|8||Fort Financial Services||67%|