HLOC chart (also called bar chart) is a popular type of chart used by professional currency traders to track the exchange rate between two currencies and how it has changed over time. It shows the maximum, minimum, opening and closing of each period of time, which together form a bar. The maximum and minimum are connected by a vertical line, while the open level shows a small horizontal dash that protrudes to the left. The closing level is shown by a horizontal dash on the left.
Each of the vertical lines is met by two shorter horizontal lines.The notch to the left of the vertical line represents the opening price, while the notch to the right of the vertical line represents the closing price. The upper point of the vertical line indicates the maximum price, while the lowest point of the vertical line indicates the lowest price. A price chart shows changes in supply and demand.Forex charts can help traders recognize patterns, understand how many traders are trading in a market, and identify areas of support and resistance. If you spot this currency chart pattern after a downtrend, the price is likely to continue to fall.
Candlestick charts indicate trading ranges from highs to lows with a vertical line.Learning to read advanced live currency charts and real-time trading charts will help you spot trends and take advantage of money-making opportunities. In the graph, the y-axis (vertical axis) represents the price scale and the x-axis (horizontal axis) represents the time scale. One trader can achieve breakneck success using a stock chart, while another hates reading stock charts and makes a lot of money with candlestick charts.If you're just starting out in the foreign exchange market, learning how to use these charts will help you understand the markets. While the research materials on Trading 212 are quite limited, there are a wide range of charting options and tools available to help you make decisions, and for beginners, there are more than 170 videos on the Trading 212 YouTube channel.One of the most popular types of charts used by professional currency traders is the dot and figure chart.
You shouldn't feel like you're attached to a graphic that worked in the past if it doesn't work anymore. Traders often use currency charts to better understand past performance; this information is then used to help them make informed trading decisions in the future.This forex broker is ideal for beginners due to its easy-to-use interface and application and 24-hour customer service. If you're just learning how to trade currencies, this list should give you a good overview of how to read major currency charts. If you track a single price on a bar chart, you can generate a line chart that helps you gather information about the performance of the stock.
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