Trading Forex Markets with Candlestick Charts (Video)
Whether you’re an investor or trader in FX, it’s very important to understand the fundamentals of chart analysis. With that in mind, we provided a video on candlestick charts since they are the BEST for spotting FX market trends. Though this concept is simple, it’s also important, so spend the time you need and make sure you grasp the idea.
Before we get to the video, let’s review some key points for you to remember.
Key Points of Forex Video on Candlestick Charts
1. Candlestick Charts Help Forex Traders Understand and Predict Price Movement in the Markets
2. Each Candlestick Represents a Certain Time Frame, which is Shown at the Bottom of the Forex Chart
3. You can Have Each Candlestick Represent 1, 5, 15, 30 minutes, 1 or 4 Hours, or Weekly and Monthly Intervals
4. Candlestick Charts Help Forex Traders Identify Certain Patterns which Indicate Trends in the FX Market
5. Each Candlestick Consists of an Open, Close, Shadow and Body which Make Up it’s Figure on the FX Chart
6. “Shadow” of the Candle is the Line Above and Below the Body, Showing the High and Low Price Over that Time Period
7. “Body” of the Candle Represents an Increase or Decrease in Price from the Last Candlestick’s Closing Price
8. Bearish Candle is Highlighted White, Showing the FX Closing Price was Lower than the Opening Price
9. Bullish Candles are Black, Showing the FX Closing Price was Higher than its Opening Price
10. “Doji” Candles have No Body, Showing the Closing Price was the Same or Very Close to the Opening Price
The accent of the presenter is a little “interesting”, but the pictures of forex candlesticks couldn’t be better! Scroll down, and click play. We hope you enjoy the video!
InsideTrade LLC Staff
Phone: (949) 444-2111