price-charts

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Forex Forex Market

Transcription:

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Price Charts – Welcome to this very short presentation giving you a very basic understanding of

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price charts

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so that you can get a good feel for how the market moves and

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most particularly how forex traders professional forex traders

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used those price charts. So, the first thing we gonna look are two key elements

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on the right hand side you’ll notice the number and you can see that it is moving up

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and down

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currently it says 1.1298. That is the price

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of this currency pair. So that’s the first bit of

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information that the chart gives you. It tells you

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what the pair is currently trading at and how much

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that pair costs to buy or sell. The other thing that price tells you

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related to that of course, is where the prices been in the recent past

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so you can see here

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in this example that this currency pair has came all the way up to

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1.1380 and then sellers came into the market

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and pushed all the way back down to its lows. Now that’s useful information

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because we know that for whatever reason sellers

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a trading from 1.1380 so if this pair gets back up to 1.1380

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you guessed it, we can expect some more sellers to come back into the market

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because that’s recently been attractive to those sellers

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it’s also been a level that buyer’s just can’t get through

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So, the first value of the price chart is showing us the history of the price

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so we can make little decisions and judgments based on that current trade

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now the other thing that a price does it displays

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in different ways, so for example you got a bar chart here we’ve also can see a

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line chart

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or the most popular way – the candlestick chart. Now the candlestick chart is the

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most popular form of chart analysis with professional traders simply because it

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gives you much more information. You can see

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not only where the prices been but where the major

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rejections came from

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these little wicks here show that the market sold

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off very quickly

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and this is a particularly fierce reaction zone if we go to a bar chart

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for instance

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or a line chart most obviously you don’t get that same clarity you just see where the

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prices been

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without those little details. That’s why candlesticks tend to be most important

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Now one thing I want to mention here is that price charts

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definitely get overused by retail traders. You

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do not trade the markets or professionals don’t trade the market’s

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by simply staring at a price chart

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and waiting for it to give a signal of which way to trade the currency

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on the different pairs. A mistake that retail traders make is they line up

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all the currency pairs they put their indicators on each one and they just wait

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to see

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which pair gives them a signal next that is the worst way you can trade and if you do

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trade like

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that you stand a very high chance of losing money

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the way you get your analysis is by studying the fundamentals and the

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sentiment

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so you can highlight which particular currency pair

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you wanna trade which direction you wanna

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trade it in

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and then use the price chart for an extra layer of analysis

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so I hope that’s helped. That’s an introduction to price charts the

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two values are

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of course the price and history of what the pair has been doing

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so you can make those decisions but you need to make it based on your existing

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fundamental and sentiment analysis in the first place

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