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You get all excited thinking about the money that’s going to be raining down from the sky.You say to yourself, “Man, I’ve never seen a more perfect trading opportunity in GBP/USD. I love my charts. Mwah.

u then proceed to buy GBP/USD with a big fat smile on your face (the kind where all your teeth are showing).
But wait! All of a sudden the trade makes a 100 pip move in the OTHER DIRECTION! Little did

one of the major banks in London filed for bankruptcy! Suddenly, everyone’s sentiment towards Britain’s market turns sour and everyone trades in the opposite direction!

charts. You throw your computer on the ground and begin to pulverize it. You just lost a bunch of money, and now your computer is broken into a billion pieces.And it’s all because you completely ignored fundamental analysis and sentimental analysis.

Note: This was not based on a real story. This did not happen to us. We were never this naive. We were always smart forex traders…. From the overused sarcasm, we think you get the picture.)

done with Kindergarten and learned a little bit about each type of analysis, it’s time to delve much deeper! Here’s what’s in store for the next few years of your life…

Grade school will be all about basic technical analysis ics behind price action, such as support and resistance levels, candlestick formations, and common chart patterns. You’ll experiment with leadi

lagging indicators and discover how to use them in coming up with trade ideas. Sounds pretty exciting, doesn’t it?
The remaining years of middle school and high school are devoted to studying more technical analysis tools.

look at the more advanced forex tools also such as pivot points, divergences, Elliott Wave Theory, and Gartley patterns. Sounds fancy? It’s because they are! Bet you can’t wait to get started on those.

College will be a bit more complicated since you’ll be tackling both fundamental and market sentiment analysis at the same time. Talk about hitting two birds with one stone! You’re the stone and the birds are… well, you get the poin.

By the time you reach college, you’ll be so hooked on learning more about forex that one lesson simply won’t be enough.
It is hard to draw the line between fundamental analysis and market sentiment analysis, but you’ll get there with.

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.
The horizontal hash on the left side of the bar is the opening price, and the right-side horizontal hash is the closing price.