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Thread: Read the forex chart- Keep the profit

  1. #1
    Trader Ruhul Amin's Avatar
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    Read the forex chart- Keep the profit

    When we take some advantage of trading, we must analysis the market. But there are a lot of analysis. So we take advantage of technical analysis. You believe it or not. There is everything on technical analysis is read the chart and make the decision depend on price.

    So if you want to success here easily make a trading system that involve chart reading. But how we can read the chart in order to make profit here. If we take some indicator , then we can read it easily with the help of support and resistance. The step I give below.

    Support and Resistance:
    First of all, try to find out support and resistance of a chart/ Currency pair. In different time frame it would be defer but you have to believe , the original price will stay with a support and resistance zone.

    Open and Close:
    It is very important that, we keep our eyes on open and close price. It will increase the ability of trading in forex market. Also a open and close price will help to calculate the pivot point or other important indicators.

    Indicator:
    There are different kind of indicators. It is easy to use and make a simple strategy. So if we work out, we can make good strategy with forex easily. Most popular indicators are included on mt4 software. I think, that’s are enough for a trader to read chart data.

    Timeframe:
    This is most important thing we should mark on our decision that, focus on the time frame we use. It must relevant with our strategy also.

    Finally, In the view of reading chart, and trade with it is focus on price. However also fundamental analysis is very important before we read the chart data technically.

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  2. #51
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    Quote Originally Posted by silverlady View Post
    your purpose of analyzing and trading is important, and it can not be the same with all traders. i see many ways which might warrant the studying of the chart over the week end, i have done this before, it is to increase the change of making money in the next week, it is good for traders to do.
    Yeah buddy we all have our own trading system and style, we have our own study material about forex and we can give time to our learning according to our choice, we can learn and read about forex on weekend and can study the charts, on the other hand many believe that there is no benefit to learn on weekend on a offline market. I personally like to learn anytime in this market I spend time on weekend too.

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  3. #52
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    Quote Originally Posted by Earnperfect View Post
    Yeah buddy we all have our own trading system and style, we have our own study material about forex and we can give time to our learning according to our choice, we can learn and read about forex on weekend and can study the charts, on the other hand many believe that there is no benefit to learn on weekend on a offline market. I personally like to learn anytime in this market I spend time on weekend too.
    Well I have a lot of time to spend in forex market, I am a full time trader personally I spend time only Monday to Friday on forex charts, I am working upon short term and long term trading both now days. So I take rest for Saturday and Sunday, some time I read books and try to learn more from them, but most of time I take rest on Saturday and Sunday.

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  4. #53
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    it is a very good and effective manner for making the decision s are very good is to be able to think well in the manner in which we have to find the details . so all of us can find that the best thing to do is to be able to put a evry smart and effective trading ideas in which we can find the details for making the good decisions

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  5. #54
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    Quote Originally Posted by Khimi234 View Post
    Well I have a lot of time to spend in forex market, I am a full time trader personally I spend time only Monday to Friday on forex charts, I am working upon short term and long term trading both now days. So I take rest for Saturday and Sunday, some time I read books and try to learn more from them, but most of time I take rest on Saturday and Sunday.
    Well, I decide to follow one method, you that thing they say about getting to master one thing, that is what I believe on therefore I am into taking the long term trading methods. Actually I do take out my weekend on checking the charts and also getting to correct some mistakes and bad trades which made me loss during the week.

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  6. #55
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    Quote Originally Posted by splash View Post
    Well, I decide to follow one method, you that thing they say about getting to master one thing, that is what I believe on therefore I am into taking the long term trading methods. Actually I do take out my weekend on checking the charts and also getting to correct some mistakes and bad trades which made me loss during the week.
    we as traders of forex business, we have many ways to trade, the chart can be work well with our knowledge and traders can use one or many trading strategies to doing this. and the weekend trading analysis is part of trading, traders should believe they can trade the higher time frames.

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  7. #56
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    Quote Originally Posted by splash View Post
    Well, I decide to follow one method, you that thing they say about getting to master one thing, that is what I believe on therefore I am into taking the long term trading methods. Actually I do take out my weekend on checking the charts and also getting to correct some mistakes and bad trades which made me loss during the week.
    [lang=id]so good to do evaluating our effort in a week at the weekend, then will make us know for what should be done at next week in monday for trading forex and we do not miss a thing for it, use high time frames to follow the market situation is very good, but sometimes, after the gap between saturday and monday will change our analysis too[/lang]

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  8. #57
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    Quote Originally Posted by samprazaan View Post
    [lang=id]so good to do evaluating our effort in a week at the weekend, then will make us know for what should be done at next week in monday for trading forex and we do not miss a thing for it, use high time frames to follow the market situation is very good, but sometimes, after the gap between saturday and monday will change our analysis too[/lang]
    it is good to do this, it makes traders know how the market might propose to them. the market might not be fine at the time we want to enter, and the evaluation will reveals that perfectly clear. the chart is not hard too, it is how e use the chart that will make money for us or not.

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  9. #58
    Trader lawners1791's Avatar
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    Quote Originally Posted by Ruhul Amin View Post
    It is very important that, we keep our eyes on open and close price. It will increase the ability of trading in forex market. Also a open and close price will help to calculate the pivot point or other important indicators.
    yes as entering of market with the good decision on initials as running of system with the distinct of field along with the details on preset as referring use of further with the strategy to gives of finale on option to work with the submission of risks with the market.

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  10. #59
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    Thousands of charts are of the right direction and so when we are said to improve the right mind we have to know we have been able to run the greatest of them all charts is a visual aid that can help us improve the visibility to what is and what is not we have to improve the greatest of them all the right to challenge the seen direction so sometimes a candle chart can help you analyze the direction you take

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  11. #60
    Trader Hukam's Avatar
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    Quote Originally Posted by rinaji View Post
    This is a verh basic knowledge on forex trading. Reading the chart by using indicators, determine support and resistance level, choosing a time frame, and always chect the daily open / close price. It will be very useful knowledge for the new traders who are still confused how and where to start.

    Now I don't use any technical indicators, I just a price it self and candlestick, I use H1 up to Weekly chart. Understanding support and resistance is a must for all traders.
    Candlesticks are really the best indicator's in the market and you are right that they can be use same like our indicator's on chart, personally I have also a good experience of price action with candlesticks and support and resistance. Pin bar is one of my favorite candlestick indicator on chart. There are many more candles which can indicate many trading opportunities, so yeah you are right about the candlesticks use in trading.

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