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3 Types Of Forex Graphs You Must Know

Technical analysis is an important lesson that leads to successful Forex trades. One of the most basic aspect of technical analysis is a trader’s ability to interpret charts and graphs. Sure, there are Expert Advisors and copy traders whom we can depend on, but knowing the basics helps a trader to observe and recognize trading opportunities. Bots are precise and accurate, yet from time to time the market expresses its sentiments. As trading involves sentimental analysis, these knowledge will prove its use.

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Support / Resistance, Trend Lines & Channels

Staring at the graphs, criss-crossing lines and decimated numbers on trading platforms, Forex trading can be a little intimidating for newbies, at first. There are so many methods revised by forum pros every day, but you hardly understand those jargons. Fibonacci expansion, say what?

However overwhelming these uncanny terms may appear, fortunately enough, you can start trading just by using simple and effective strategies that is as useful as any indicators in the market or on the trading platform (although overlooked often by many), which is trading with Support and Resistance levels.