SigmaForex Types Of Charts

Pivot points

noreply@blogger.com (adison silva) — Thu, 21 Jan 2010 02:02:00 -0800

Pivot points, a technique developed by floor traders, help us see where the price is relative to previous market action.

Pivot Points: Pivot point is a level in which the sentiment of the market changes from “bull” to “bear” or vice versa.

Why use Pivot Calculator ?

noreply@blogger.com (adison silva) — Thu, 21 Jan 2010 01:45:00 -0800

They are a long proven, reliable, widely used predictive tool that helps take a lot of the guesswork out of determining exactly where and when to enter or reverse a market position.

When entering a basic simple entry, Pivot levels help to you determine in what direction you should go. And they will go a long way to calm fears when trading in real cash.

Pivot Calculator

noreply@blogger.com (adison silva) — Thu, 21 Jan 2010 01:39:00 -0800

There are many ways to find support and resistance price levels, but one good and fairly easy to use "Pivot Points".

You find them using a "Pivot Calculator"

Pivot Points:
P = Pivot
R1 = Resistance level 1
S1 = Support level 1
R2 = Resistance level 2
S2 = Support level 2
R3 = Resistance Level 3
S3 = Support Level 3

Bar Chart

noreply@blogger.com (adison silva) — Mon, 18 Jan 2010 05:46:00 -0800

Is a chart with rectangular bars of lengths usually proportional to the magnitudes or frequencies of what they represent.

Uses bars to show frequencies or values for different categories, also known as a bar graph.
Bar charts are used for comparing two or more values. The bars can be horizontally or vertically oriented.
Sometimes a stretched graphic is used instead of a solid bar.
Each bar contains 4 'hooks' (the opening, closing, high and low (OCHL) rates of transactions at a certain time interval). VET3PM5UHFQB

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Line Chart

noreply@blogger.com (adison silva) — Mon, 18 Jan 2010 05:44:00 -0800

Is a two-dimensional scatter plot of ordered observations where the observations are connected following their order.

The line chart is a graphical representation of the historical exchange rate of a specific currency pair in a certain period of time. The line is brought into existence and drew according to the closing prices connection of the day.

Candlestick Chart

noreply@blogger.com (adison silva) — Mon, 18 Jan 2010 05:40:00 -0800

It’s the oldest types of charts developed in the 18th century by legendary Japanese rice trader Homma Munehisa, this style of charting is very popular due to the level of ease in reading and understanding the graphs.

Each candlestick includes the open, high, low, and close, of the timeframe, and also shows the direction (upward or downward), and the range of the timeframe.

The candlestick provides a visual details more than any other chart.