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Thursday, November 1, 2012
Japanese Candlestick Charting
These candlesticks were invented by Japanese to analyze rice contracts. The candlestick charts are very similar to bar charts but are much more easier to read because they are color-coded. For example, green candlesticks shows rising prices while red candlesticks shows us falling prices.
Traders should have an ability to keep track of currency pairs by learning their skill of reading live or real time Forex charts to simply recognize the pattern and get to know how to use it. Then you will be well on your way to trade with a fair degree of confidence.
Real time Forex charts can give you a huge deal of information about your currency pair which is often supplemented by using a number of technical indicators like trend, strength, volatility and cycle indicators all of which are well used to predict both movements of the market and market volume.