| A Simple Forex Course - Forex Charts |
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Line chart By plotting the price of a currency pair over time on a graph and drawing a line through the points you get a simple line chart. The data from a chart like this is limited by the timescales set. So the points could be the closing price once a day if you are looking over the course of months or years or the price every minute, to every single price movement in fractions of seconds.
Bar chart A bar chart allows you to plot more data on the same area than a simple line chart. Rather than just have the closing price for a particular day, a bar chart shows the opening price, the highest price and lowest price for that day and the closing price. Once again the timescales can be set arbitrarily so a single bar can represent a day, a week or whatever other unit of time is required
Candlesticks Candlestick charts are another popular chart format. They provide the same data as a bar chart but in a format that is visually more appealing. They are easier to read and generally more favoured than bar charts as it is easier to spot patterns
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