فوركس ساتو

CANDLES AND CHARTS
What is a “candle”? For FOREX traders it’s not one of those wax
things you light on fire and place on birthday cakes. It is a way for
you to visually interpret price data for a certain time frame.
Candles can represent virtually any time frame you want. For the
purpose of this eBook we will simply focus on Daily, Hourly, 5
minute and 1 minute candles. This means, for example on an
Hourly candle, that it will show you the significant data of what the
price action was during that single hour. A single candle can show
you what was the opening price at the start of that time period, what
was the highest price reached, the lowest price reached, and the
closing price at the end of that time period.forex sato
On charts you will see two kinds of candles. On colored charts you
will typically see red candles and blue candles. On black & white
charts you will see solid candles and hollow candles. The red or
solid candles (same thing) show you that prices dropped at the close
from the opening price. Conversely, the blue or hollow candles
(same thing) show you that prices rose at the close from the opening
price. In short, the blue/hollow candles show you that prices are
going up, and the red/solid candles show you that prices are going
down.

For the “FOREX Surfing” strategy you will need access to real time
charts. Your FOREX broker should offer you some free charts, and
this is all you need. I provide links to brokers and free charts on my
website (in the Resources Section). You should use the charts
provided by your broker, as those will reflect the actual trading
prices of your broker, as sometimes-different brokers/charts have a
slight price discrepancy, which could throw off the system for you.
The free charts are all you really need, so save your money, you
don’t need to purchase the “Pro” charts.forex sato
What you will need to do is access the chart for the currency pair
you are interested in trading. Make sure that the chart is showing
“Candles” rather than other types of charts. Change your view to
show you 5-minute candles, or whichever time frame you prefer.
This means that each candle shows the price action of five-minute
increments. You may want to zoom in to get a clear view of the
most recent candles, which are on the right of the screen. When you
mouse over a candle notice that somewhere it should display to you
the opening price, high price, low price and close price, along with
the date and time of that candle. Spend some time playing with your
charts getting really familiar with it so that when you’ll be placing
your trade you won’t be fumbling around trying to figure things out.forex sato
forex sato