You create a line chart by plotting the closing price of each trading period on a chart and then connecting each closing price with a line Look at 4.

Chart setup

Bar charts provide more information than a line chart. Whereas line charts only plot the closing price from each trading period, bar charts plot the opening, high, low and closing prices from each period. Seeing where a currency pair started the trading period compared to where it ended the trading period can help you better identify trends.

If the price closes higher than it opened, you know investors were bullish on the currency pair during the trading period. If the price closes lower than it opened, you know investors were bearish on the currency pair during the trading period. You can see an example of a bar chart to the right.

Look at 6.

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Candlestick charts provide the same information as bar charts but in a slightly different format. Technical analysts often use candlestick charts instead of bar charts because it is easier to see and identify various trading patterns using candlestick charts. You create a candlestick chart by plotting a series of candlesticks across the chart. Each candlestick represents one trading period. To create a candlestick, you plot the high and low price of a trading period and connect them with a vertical line.

This line is called the wick of the candle Look at 7. Next, you plot the opening price by drawing a horizontal line through the vertical line, or wick. After you have plotted the opening price, you plot the closing price by drawing another horizontal line through the vertical line. Lastly, you fill in the area between the opening price and the closing price.

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This area is called the body of the candlestick. You can see an example of a candlestick chart to the right.

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Look at 8. Z powrotem. Live chat. Graphic 1 —Chart setup The X axis runs horizontally along the bottom of the chart providing a timeline for everything that has happened on the chart.

Technical analysts tend to gravitate toward the following three chart types: Line charts Bar charts Candlestick charts Line charts Line charts are the most basic type of chart. Graphic 4 - Line Bar charts Bar charts provide more information than a line chart. Graphic 5 Seeing where a currency pair started the trading period compared to where it ended the trading period can help you better identify trends.

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Graphic 6 - Bar chart Candlestick charts Candlestick charts provide the same information as bar charts but in a slightly different format. These derivatives may not be suitable for all investors.

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