What is forex chart
Forex chart is a key aspect, because with the help of it is possible to observe currency
Forex chart is the basis of technical analysis, where is carried out the study of the laws of price
behavior. Therefore, for profitable trading, it is necessary to understand the schedule and
understand what is happening to it (why it grows, why it falls, and so on). But for this it is
necessary, first of all, to know how this chart is created and from which constituent elements it
If we consider a classic forex exchange chart, it will include the following elements:
Open. The price at which the schedule began to be built.
Close. Here all by analogy, and this indicator characterizes the price at which the schedule
High or the maximum price. The forex chart can change a lot (especially it is characteristic for
Low or minimum price. By analogy with the previous paragraph, but in this case indicates the
minimum price that the financial instrument reached for a certain timeframe.
Volume. Forex charts are arranged in such a way that they do not have a pure (in the exchange
sense) volume expressed in money.
Bid or demand price. This is the actual price at which you can right now sell your contract for
the underlying asset. As a rule, here is the price offered by the market maker.
Ask or offer price. This is the most important indicator of the price, since it is through this
quotation that you will make a purchase. In other words, this is the price at which a market
maker is ready to launch you into the market.
These are the key indicators that the characters for any forex charts, whatever platforms for
trading or market analysis you have not used.