Forex Charting Tutorials

chart mistakes

Most beginners tend to solely rely on forex charts as the ultimate market resource. Unfortunately, no matter how advanced, without proper knowledge of fundamental analysis, forex charts can become an overwhelming information machine, which creates false alerts for those who do not understand the charts properly.

head and shoulders patternHead and Shoulders Pattern

The Head and Shoulders pattern is one of the most popular reversal patterns. In forex trading head and shoulders formation allows you to clearly identify the signal and entry point.

top bottom patternIn today’s tutorial we will look at a common chart formation in forex trading that helps to predict the price movement – double top and double bottom patterns.

symmetrical patternOne of the pattern formations in forex trading is called Symmetrical Triangle. This pattern is formed when a sequence of higher price values creates a line and a sequence of the lower price values creates a line and together they form a triangle. 

forex chartsThe beauty of technical analysis lays in the ability to predict future by looking at the past. That's where forex charts come handy. Don't worry, it has nothing to do with geometry. Charts are a graphical description of forex price activity over a specific period of time.

timeframes

What are your options? There are 1-minute, 5-minute, 15-minute, 1-hour, daily, weekly, monthly, or yearly charts and the kind of chart you choose will largely influence your trading results. The time frame you choose should fit your character and personality. It is not something you can skip and decide later on. This one should be on the top of your forex to-do list!