5 factors to consider when reading Forex Charts
Before you start practicing real currency trading is very important to learn to read Forex charts. This article will be useful information for currency trading and help you to read Forex charts.
All currency pairs are always the same means, for example EUR / USD is referred to as EUR / USD and EUR mean that the base currency and the dollar is the currency conditions. If the chart shows that price fluctuations between 1.2155, reflecting the euro bought $ 1.2155. In addition, trade size means the size of the base currency you want to trade. For example, EUR / USD 100 000 suggests that you buy 100,000 euros.
5 important steps are involved currency chart reading.
1. If you bought a currency pair to make a profit, you want your base currency to increase against the currency conditions.Similarly, when selling the currency and you will benefit if the base currency is reduced compared to the currency plan.
2. Many maps show the different time frames. Think about this scheme you can use 4 hours and 30 minutes to show the general trend of the currency pair. However, you can use the chart five minute to an increase of temporary downturn appears real. So you must use an appropriate timeframe for analysis.
3. All prices are listed in the "offer" and "ask" price and currency charts show the bid price, but by asking price, usually. For example, the price of EUR / USD 1.2055 1.2058 may be supply and demand. Buyers and sellers use the price of the offer price for sale.
When you sell a currency chart price list 1330, the retail price will be the same. But when you buy a catalog price of 1330, and then actually purchase 1.3333.
4. Time is shown in the table of currency is a time zone that the provider has chosen table. Therefore, to convert time zone for your convenience. This will help you to negotiate effectively when large international ads are made.
5. Also make sure that your letter refers to currency in terms of opening or closing the canvas. If you work before or after a major release, when the business needs more precise. The trade made after one candle can cost lots of money.
These essential reading conversion chart will help you in reading the letter effectively and avoid common mistakes.
Before you start practicing real currency trading is very important to learn to read Forex charts. This article will be useful information for currency trading and help you to read Forex charts.
All currency pairs are always the same means, for example EUR / USD is referred to as EUR / USD and EUR mean that the base currency and the dollar is the currency conditions. If the chart shows that price fluctuations between 1.2155, reflecting the euro bought $ 1.2155. In addition, trade size means the size of the base currency you want to trade. For example, EUR / USD 100 000 suggests that you buy 100,000 euros.
5 important steps are involved currency chart reading.
1. If you bought a currency pair to make a profit, you want your base currency to increase against the currency conditions.Similarly, when selling the currency and you will benefit if the base currency is reduced compared to the currency plan.
2. Many maps show the different time frames. Think about this scheme you can use 4 hours and 30 minutes to show the general trend of the currency pair. However, you can use the chart five minute to an increase of temporary downturn appears real. So you must use an appropriate timeframe for analysis.
3. All prices are listed in the "offer" and "ask" price and currency charts show the bid price, but by asking price, usually. For example, the price of EUR / USD 1.2055 1.2058 may be supply and demand. Buyers and sellers use the price of the offer price for sale.
When you sell a currency chart price list 1330, the retail price will be the same. But when you buy a catalog price of 1330, and then actually purchase 1.3333.
4. Time is shown in the table of currency is a time zone that the provider has chosen table. Therefore, to convert time zone for your convenience. This will help you to negotiate effectively when large international ads are made.
5. Also make sure that your letter refers to currency in terms of opening or closing the canvas. If you work before or after a major release, when the business needs more precise. The trade made after one candle can cost lots of money.
These essential reading conversion chart will help you in reading the letter effectively and avoid common mistakes.
