Forex Technical Analysis: Basics - Part 1 | Vantage FX UK
- 11 years ago
Vantage FX (http://www.vantagefx.co.uk) looks at different chart types and what traders can decipher from them.
Line Charts
The line chart notes the value of the currency pair based on the periodicity, eg. on the time-frame of the chart. The line then links up each noted price on the time frame, creating a smooth illustration of the price action.
The histogram below, based on the futures volume shows volume traded on a vertical scale. As the volume increased, we see the line chart moving upward. Traders can use this information along with data to analyse the effect news has had on key prices over a period of time.
Line Charts
The line chart notes the value of the currency pair based on the periodicity, eg. on the time-frame of the chart. The line then links up each noted price on the time frame, creating a smooth illustration of the price action.
The histogram below, based on the futures volume shows volume traded on a vertical scale. As the volume increased, we see the line chart moving upward. Traders can use this information along with data to analyse the effect news has had on key prices over a period of time.