how to Take First Learning Step in Forex Trading

Become a disaster if you are looking at you can leave your CH focus on a single type of analysis to give an example of how

Candlesticks are easy to interpret, and are a good place for beginners to start figuring out forex chart analysdlesticks are easy to use! Your eyes adapt almost immediately to the information in the bar notation.

with studying, so it might help with trading as wellticks and candlestick patterns have cool names such as the “shooting star,” which helps you to remember what the pattern means.

Candlesticks are good at identifying market turning points – reversals from an uptrend to a downtrend or a downtrend to an uptrend. You will learn more about this later.

Now that you know why candlesticks are so cool, it’s time to let you know that we will be using candlestick forex charts for most, if not all of forex chart examples on this site.

Support and resistance is one of the most widely used concepts in forex trading. Strangely enough, everyone seems to have their own idea on how yo

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There is no definite answer to this question. Some argue that a support or resistance level is broken if the market can actually close past that level. However, you will find that this is not always the case.

Let’s take our same example from above and see what happened when the price actually closed past the 1.4700 support level.

In this case, price had closed below the 1.4700 support level but ended up rising back up above u had believed that this was a real breakout and sold this pair, you would’ve been seriously hurtin’!

Looking at the chart now, you can visually see and come to the conclusion that the support was not actually broken; it is still very much intact and now even stronger.

To help you filter out these false breakouts, you should think of support and resistance more of as “zones” rather than concrete numbers.

One way to help you find these zones is to plot support and resistance on a line chart rather than a candlestick chart. The reason is that line charts only show you the closing price while candlesticks add the extreme highs and lows to the picture.

These highs and lows can be misleading because often times they are just the “knee-jerk” reactions of the market. It’s like when someone is doing something really strange, but when asked about it,

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When plotting support and resistance, you don’t want the reflexes of the market. You only want to plot its intentional movoking at the line chart, you want to plot your support and resistance lines around areas where you can see the price forming several peaks or valleys.