Candlestick chart: An improved version of the bar chart, it has 2 main elements - body and shadows. Whilst some of these methods can be advanced and sophisticated, there are some simple methods that take advantage of the most regularly traded elements of those Forex patterns. Within each bar, the lowest part of the vertical line represents the lowest traded price for the specified currency pair during a certain timeframe. This comes from the exchange rate as well as other market observables like the open interest and traded volume for futures contracts. Open your live account now by clicking the banner below. There are many Forex brokers out there that can supply you with a platform, but often they will have very limited functionality - where you can only open the orders, modify them, and preview the pricing. They essentially allow traders to ride the market wave, and when well understood and interpreted, they can help pick out lucrative trading opportunities with minimal risk exposure. Free forex charting software.

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