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Reading Charts

[select lesson][Chapter] Reading ChartsIntroduction to ChartsTypes of chartsCandlestick ChartingCharting TimeframesPredicting the Direction of the Market[Chapter] Charting toolsWhat are we looking for in a chartWhat is a SupportWhat is a ResistanceDrawing TrendlinesDrawing Price channels[Chapter] Chart PatternsWhat is a Chart patternAscending TriangleDescending TriangleSymmetrical TriangleFlags and Pennants[Chapter] Indicators and OscillatorMoving AveragesRelative Strength IndexBollinger bandsMoving Average CrossoversStochastic Oscillator[Chapter] Creating your trading systemWhat is a trading systemSteps to create your trading systemTesting your trading systemFollowing your systemTrading systems on the web

Forexopia  »  Intermediate  »  Reading Charts Reading Charts Charts provide visual representation of the market - and if you can read into it - it also provides the psychological stress points of the market - support(s) and resistance(s) 1 Introduction to Charts Charts are the most important tool for a technical trader. Collective interest of the traders can be found in a visual setting via a chart. 2 Types of charts There are many types of charts from bar charts to ancient old point and figure charts. Of all the charts candlestick charts are becoming more popular than ever. 3 Candlestick Charting Candlestick Charting 4 Charting Timeframes Charting Timeframes 5 Predicting the Direction of the Market Predicting the Direction of the Market 1 Reading Charts Charts provide visual representation of the market - and if you can read into it - it also provides the psychological stress points of the market - support(s) and resistance(s) 2 Charting tools Easy to understand and simple to use tools that highlight market entries and market exists are already provided in most charting softwares - learn how to use them. 3 Chart Patterns Mystic language of charts - in most cases, the answer is obvious to those who can decipher chart patterns. 4 Indicators and Oscillator These tools provide you with a probable market trend based on mathematics. Use them ONLY to confirm your analysis. Do not rely on these alone. 5 Creating your trading system Simply put: using a small group of charting tools from your arsenal of tools. Put those tools to test using your demo account or do backtesting.

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