how to Take First Learning Step in Forex Trading

As we mentioned earlier, fundamental factors are mostly responsible for shaping forex market sentiment. Those two types of analysis would take up both freshman and sophomore year of college.

A simple line chart draws a line from one closing price to the next closing price. When strung together with a line, we can see the general price movement of a currency pair over a period of time.

A bar chart is a little more complex. It shows the opening and closing prices, as well as the highs and lows. The bottom of the vertical bar indicates the lowest traded price for that time period, while the top of the bar indicates the highest price paid.

The vertical bar itself indicates the currency pair’s trading range as a whole.e horizontal hash on the left side of the bar is the opening price, and the right-side horizontal hash is the closing price.

Take note, throughout our lessons, you will see the word “bar” in reference to a single piece of data on a chart.
A bar is simply one segment of time, whether it is one day, one week, or one hour. When you see the word ‘bar’ going forward, be sure to understand wh

Bar charts are also called “OHLC” charts, because they indicate the Open, the High, the Low, and the Close for that particular currency. Here’s an example of a price bar:

The little horizontal line on the left is the opening price
High: The top of the vertical line defines the highest price of the time period

Low: The bottom of the vertical line defines the lowest price of the time periodClose: The little horizontal line on the right is the closing price

Candlestick bars still indicate the high-to-low range with a vertica in candlestick charting, the larger block (or body) in the middle indicates the range between the opening and closing prices.

In the following example, the ‘filled color’ is black. For our ‘filled’ blocks, the top of the block is the opening price, and the bottom of the block is the closing price. If the closing price is higher than the

Here at BabyPips.com, we don’t like to use the traditional black and white candlesticks. They just look so unappealing. And since we spend so much time looking at charts, we feel it’s easier to look at a chart that’s colored.

A color television is much better than a black and white television, so why not splash some color on thosly substituted green instead of white, and red instead of black. This means that if the price closed higher than it opened, the candlestick would be green.

In our later lessons, you will see how using green and red candles will allow you to “see” things on the charts much faster, such as uptrend/downtrends and possible reversal points.

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For now, just remember that on forex charts, we use red and green candlesticks instead of black and white and we will be using these colors from nck out these candlesticks…BabyPips.com style! Awww yeeaaah! You know you like that!

The purpose of candlestick charting is strictly to serve as a visual aid, since the exact same information appears on an OHLC bar chart. The advantages of candlestick charting are: