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.