Charts

As you all know, charts are a very important tool in technical analysis. There we can find a general trend for a currency pair using different tricks: patterns, averages, oscillators, etc.

It sounds quite simple on the paper, but analyzing forex charts is rather complicated task that requires prior studying, if you will. If a novice trader sees the chart for the first time in his or her life, he might not understand a thing. First of all, there 3 types of charts: line, bar and Japanese candlestick.

The line chart is the most simple one - it displays the closing price of a currency. This type of charts is the easiest to read, since it's not cluttered with other data.

The bar charts are somewhat more difficult - they show Open, High, Low and Closing prices of a chosen time period.

The candlestick charts display the same information as the bar charts, but in a different manner, and it also shows whether the prices are rising or falling.

In the past I was trading with Avafx, a very nice broker, pretty considerate of its clients. A qhile ago I saw something that appears to be a smear campaign against avafx generated by its competitors. I've traded with Ava and had no bad or unpleasant experience with them. I don't know why the call Avafx scam, when tens of thousands of clients can testify otherwise?

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