Basics of Forex Bar Candlestick News Trading

Everything in your trading journey doesn’t matter at all unless you know how to read technical analysis properly If you don’t, you won’t make any money in your trading career at all Now I know you’ve heard different ways you can do market sentiment You can do the basics News trading, you can do bar candles, and all these different types of things, but honestly, all of these things are way more unpredictable, and technical analysis is the most predictable type of trading, simply because you’re repeating what the price did to the left. literally.

Basics of Forex Bar Candlestick News Trading

What you have to do is look to the left to know what to do to the right Patterns repeat themselves every day in the market and will remain that way forever as long as the candlestick charts continue to print candlestick charts now if you don’t know technical analysis or you might want a little clarity on market structure And certain things around it.

That’s exactly what this article is about, so make sure you watch the article until the end because I’m going to give you a full article clip on How to Read Technical Analysis Correctly and how I’ve been doing it for about 6 and a half to 7 years.

So the first thing in technical analysis would be a pivot candlestick chart, so that’s what you’re going to be trading, so there are many different types of charts, there’s the line chart, there’s the bar charts.

Candlestick charts and charts

If you have no idea what it is and frankly you don’t need it all you need to be successful is to know the technical analysis candlestick chart which is what I will explain to you now in this part here, so coming here to view trading is what every person sees for the first time when they enter the market they see All these red lines are going down, and the red lines are going up, or the squares are going down, and the squares are going up.

And in the initial site, this can be very confusing and it can be almost overwhelming because you don’t know where to look if you’re looking at this point here, to begin with, if you’re looking at this point here, to begin, there are so many different areas that you can look at In this scheme you don’t know where you should look to make money in the market properly.

The point of you coming into this and reading this article and learning technical analysis is that you want to make money in the market well, and that’s what you need to mainly focus on and these are the technical analysis patterns on a candlestick chart, so this chart here is a candlestick chart.

Different types of Forex technical charts that you can analyze

You can get a bar chart, you can get a line chart you can also get a candlestick chart which is the most popular and you have all these different types of charts that I honestly have no idea how to read, and have never tried to read.

At the end of the day what you’re doing is simply representing the real-time price in front of your face in a different way so they’re just representing the rise of the market or they’re representing the fall of the market in all different types of formatting but they’re all doing the same thing at the end of the day representing the price.

So you want to make sure you read this technical analysis chart to see what it is and the easiest way to do that is with a line chart, so we’ll move on to the candlestick chart a little bit later in the article, but you guys got the first initial idea we’re going to start with the line chart, so here in Line chart, it’s very clear that you have bullish steps which is technical analysis of a bull market.

Descending steps in Forex technical analysis

Bear market, the bull market is buying a bear market or selling, and in this perfect example you can see how a market has a bear market to the downside and then you can see how in this example you can have bull markets to the upside, so They are both technical analysis charts, so you are analyzing the charts to determine if the market is going up or if the market is going down, which is very simple and self-explanatory.

But when you enter the market and you see the endpoint here, this is where the price is living now, so this is the Euro right now and it’s the most traded currency in the entire foreign exchange market because it’s the main currencies that are traded that they’re trading which is the US dollar and the Euro.

What happens when you enter the Forex market and see the endpoint of a trade?

This makes this pair the most traded pair in all the foreign exchange markets so this is the price it is currently trading at the price is currently at 1.0 8459 which is the last point where it stopped at the market close on Friday so what you want to determine based on this Price is what he can do now.

Can it go up or can it go to the downside, this is where you have to look at the technical indicators and analysis to determine if it will go up or down, which is more logical because at the end of the day, it will do either or it will go up or down.

Summary

You just have to find an edge in the place that makes it make sense to go up instead of down or to go down instead of up in Forex, so you can do that by reading technical analysis, so one of the first things you want to focus on is the most recent price that will be In this area here when you are doing technical analysis.