Forex

Home    Previous lesson     Next lesson Japanese candlesticks is a must know thing for all Forex traders. If you don't know this, you have to depend on the other traders for Forex signals. So learn to read Japanese candlesticks effectively. Since you have read my all previous posts so far I think you are familiar with the Forex jargon. So it'll be easy to go bit deep in to Forex technical analysis. If you not went through my previous lessons first read those to have basics of Forex trading. Let's see what is a Forex chart and then we will move in to Japanese candlesticks.  What is a forex chart and why do we use it Forex chart is a simple graph with two axes which illustrates the changing of the value of a given currency pair over the time. So it looks like this. Why do we use charts in forex. There are various reasons.       1. They provide a good visual image of price movement of a currency pair.       2. They allow us to use number of indicators which are used

Home    Previous    Next  First of all I want to say "Trend is your FRIEND". Go with the trend, otherwise you will loose most of the trades.  Anyway now you know something about forex charts. Here we'll learn further more about reading forex charts. What is "Trend" Trend is the next most important thing in forex trading. By now you already know that we have to predict the price movement of the currency pair to buy it now or to sell it. So for this we have to know what is the likely direction for the price to move in next few minutes or hours. So it is called a "Trend" The trend can be of two types  Upward trend ( Bullish trend) Upward or bullish trend is an upward price movement with the time. If you have found that there's an unward trend is developing for a currency pair, you can buy the currency pair at that time. Then you have to wait till it's price goes up and once it is at your desired level, you can sell it. So you make a profit.