Tips and Tricks to Read Forex Charts and Spot Trends
Have you ever seen a forex chart before? Chances are you have, either in a newspaper, on some website, or on the evening news. Different charts have different formats, but all serve a single purpose: To plot the exchange rate of a currency over a period of time.
Needless to say, the actual period of time is entirely variable, and you can find forex charts that span a decade just as easily as you could find those that span 3 hours.
Undoubtedly, you’d have noticed that most active forex players spend hours pouring over these charts and analyzing their data. If you’ve paused to ask yourself why they do so, you’d have probably guessed the answer rather immediately: They’re looking for trends.
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