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What is the best chart for forex?

forex chart is almost same as stock market candlestick chart patterns which are basically used for to know about the historical records, behavior of the stock, technical analysis, understand the trend pattern, entry and exit points etc

More you get into this more the information you will get. Day traders, swing traders will take an idea from charts and take their positions in market. There are many other types of charts other than the Candlestick such as line chart and bar chart. All these charts works on a time frame.

Charts are considered as useful for those who did technical analysis before investing or trading. Now how to do technical analysis? By watching these charts one should know about future price movements. 

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The combination of forex charts with indicators. Although, there are number of chart patterns too from where one can predict the future prices.

What exactly chart represent? Changes in price, historical changes in price, Number of buyer and sellers. Chart shows the price movement as per the human behavior most of the time, price fluctuates.

Line Chart – is a pattern where a line moves in upward trend and in downward trend. The up line shows the opening price and another one is closing price. Chart pattern look simple but it’s difficult for trader to fetch information from these types of charts. These charts are famous as one can see the trends more easily.

Bar chart – This type of pattern help the user to know about highs, lows, opening and closing points. That’s why it is also known as OHLC which is open high low close.

Candlestick Chart – This is same as bar chart and line chart but shows the more information about the price. Apart from open, high, low, close it also shows the bullish and bearish trends. Red Colour candle shows the bearish Market and green Colour shows the bullish market.

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All the chart patterns are good but we are discussing the advantages of candlestick chart pattern:

Candlestick chart pattern are easily understandable and easy to interpret. Although, for new beginners it’s better to start with this chart pattern for good results. 

They are easy to use and understandable. These types of chart patterns are good for financial analysis as it display all information clearly.

There are number of patterns like morning star, evening star, Dow candle, etc. All these terms have different meanings which will help you in your trading journey.

All this information is basic information about charts.

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