What is forex candles and how to work with it?

Very few people did not hear today that such the currency market Forex. Still one year ago such concepts as analytics, currency pair, forex candles, day and tick schedules were clear to only narrow circle of the elite, and that, only on the Internet. Today about Forex speak on TV, advertise Forex on radio, even began to appear big boards with offers on opening of accounts on Forex.

And the account can be opened even from 1$! Dealing centers and analytical reports meet almost in each news-stand, and profitable strategy, probably, to buy for 5$.

Thanks to the similar propagation, almost each schoolboy knows now about Forex and does trial attempts to “play” it, including itself quite prepared for the auctions. Having studied the fundamental and technical analysis, knowing about “waves of Elliot” and trying to count a trend turn on “sliding average” very few people from newly made traders directs the attention to such way to a graphic analytics, as forex candles.

Certainly, everyone uses in the work different types of schedules, not only forex candles. There are some basic graphic indicators of a condition of the price and its forecast:

– Bars

– Lines

– The Japanese candles.

The last to a thicket name “forex candles”, and they are considered among skilled exchange speculators as the most indicative and effective. That’s it on forex candles also it is necessary to focus the attention to the beginning trader.

The graphic analysis with use forex candles has appeared still 300 years ago in Japan, and has received the name for the simple reason: for descriptive reasons movements of the prices and a difference of indicators between closing and opening, Japanese “stockbrokers” in the Middle Ages displayed usual candles on a table.

Similar prototypes modern forex candles had a match from two parties and were two colors in the black and white, depending on a price direction.

The application principle forex candles consist in the following: if the closing price above, than the opening price and a forex candle white, and if the price of closing below the opening price, that, accordingly, forex candle black. Thus, having carried out the simple analysis of an arrangement black and white forex candles and their derivative groups, it is possible to predict the future direction of a trend with the big accuracy.
So this information I am sure will be enough for you to understand of how to work with these forex candles and what they mean for the forex trading. Also if this information won’t be enough for you, you can always find some additional information about forex candles on the official forex web sites.

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