![]() In short, a chart is a depiction of exchange rates that happen between two financial instruments that are plotted and illustrated on a graph. Let’s start by understanding what a trading chart is, before zooming in on patterns and indicators. On the other hand, fundamental traders prefer to follow news sources that offer information on economic growth, oil supply, employment data, interest rate changes and geopolitical drivers like war and political instability. They prefer to follow the predictive powers of charting tools and indicators to identify peaking trends and price points, in order to guide them when to enter and exit the markets. ![]() Traders that use charts are known as technical traders. This article aims to kick you off on your journey to understanding and using charts to enhance your trades. Like all things in life, the more you practice, the more you enhance your skills. The ability to read trading charts is part and parcel of trading, and the more you understand about technical analysis, the better a trader you can become. No matter what asset you are trading, you need to know how to follow charts. ![]() Identifying trends, whether they are moving up, down or across and also knowing when they are about to reverse is really key to your Forex trading. ![]() Using Indicators and Studies on Your Chart.
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