What is Forex chart?
Forex traders have developed several methods for attempting to figure out the direction of a currency pair while trading fx. Fundamental traders may read news sources such as Bloomberg to see how interest rates, economic growth, employment, inflation, and political risk affect the supply and demand for currencies. Technical traders use charting tools and indicators to identify trends and important price points of where to enter and exit the market.
But no matter what type of trader you are, you'll need to learn how to read forex charts on a forex trading platform and need to know what is forex.
Just looking at forex charts can be helpful in making a trading decision, but many traders also use technical indicators to help them make more informed trading decisions. These tools help a trader locate price trends and predict future price movements. Most forex trading platforms are equipped with over thirty popular pre-loaded indicators. Over six hundred popular and custom indicators are downloadable online. To add an indicator to a chart, right click on the forex chart and select ‘add indicator.'
Sakura FX Trading also use a forex chart indicator also what called Trading Central Plug-in what is used to trading fx.
Prices trend in one of three ways: up (bull market), down (bear market) or sideways (range bound market). A trend line is used to help a trader visually recognize which trend direction is in place. Until the trend is broken, a trader can reasonably expect the trend to continue. Trend lines are drawn with the pencil tool. Typically, when you draw a trend line, you want to connect two or more extreme high or low prices that define the trend.
The nice part of the Trading Central plug-in indicator what Sakura FX Trader use is that you don't need to draw lines yourself on the forex trading platforms.