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    Thread: Simple strategy on how to read a chart (Part 2)

    1. #11
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      Quote Originally Posted by Mike Idoko View Post
      it is very important to know how to read your chart because it will help to determine the market weather to trade at a particular time or not
      But it's not easy to read our chart in order to make decision for opening position.
      As we know, reading chart is for knowing where the trend will go and we entry to follow the trend.


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      Chart is the indicator for the prediction of the market .
      it helps the investor for gaining the knowledge about the market with the helps of it he can drives to the market with a large enthusiasm.


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      actually easy to make chart reading just to get it all you have to really understand and study of the indications and patterns of movement and time


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      Quote Originally Posted by garry View Post
      actually easy to make chart reading just to get it all you have to really understand and study of the indications and patterns of movement and time
      easy to see but some time when we are make the good analysis using the chart that we are already see some time will turn to the bad result on our trading because we have the bad emotion


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      Nice strategy but for confirmation you suggest to look at 15 min chart but i think that i we follow one hour chart for the same purpose than we can make more decent moves, When we follow one hour chart at that time there will be less chances of fake signal.


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      Good Post. i do read the market news which affect the market the most, other ways i use technical analysis by looking at the chart with all the indicators and the other fundamental analysis.
      Happy piiping


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      Quote Originally Posted by Mike Idoko View Post
      it is very important to know how to read your chart because it will help to determine the market weather to trade at a particular time or not
      you still have to require a high skill in trading you for a good analysis in your trading so that it will be made for you to earn good profits in the trade you are doing and this is the most appropriate


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      Well, that's a good way to read a chart. Every trader has his own strategy to read a chart and predict its movement. For me i personally use candle stick pattern to read the chart


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      Red face Strategize

      simple strategy:
      Use bollinger bands I find them to predict trends in just right direction
      Upper band: if movement of currency reaches here then sell.
      lower band: if movement of currency reaches here then buy.
      and your correct everyone should keep checking on 1minute 5minutes chart Because these make up to an hour chart so start with 5minutes charts to predict trend of it.


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      Quote Originally Posted by kashifrehman View Post
      Nice strategy but for confirmation you suggest to look at 15 min chart but i think that i we follow one hour chart for the same purpose than we can make more decent moves, When we follow one hour chart at that time there will be less chances of fake signal.
      One hour chart is better than 15 min chart for intraday trading because it is always showing clear picture for last 1 hours period of that particular currency pair. Although chart reading is import in any strategy, we also have to consider new released of fundamental news.


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