As one can expect there are many kinds of graphical representations of market data. I showed you candlesticks before and certainly I am going to get back to it soon but before this here goes point and figure type of chart. The idea behind it is to filter the noise in consolidation areas and make the chart more clear. There are many methods of using this kind of charts so here is the general description of chart itself.
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21SepCandlesticks and other chart types Comments Off
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19SepCandlesticks and other chart types Comments Off
Japanese method of representing market data, I guess 90% of traders who actually look at charts use candlesticks. Why? Probably because of simplicity and full information contained about price in particular timeframe. This tiny video below will show you how to grasp the very beginning of the idea on how to read these candlestick charts. Add it to your price action and fibo levels and hey, you might even get pretty good method.
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