Interpreting Forex Charts
Interpretation of Forex charts. Displaying bars of price and sales on the chart in different colors is quite common. When coloring diagrams, it is important to use contrasting colors, which will give you the opportunity to easily distinguish between the days when the quotes grew and when they fell. For example, in one of the well-known software packages designed for charting, the days of growth of quotations are displayed in green by default, and the days of decline in prices - in red. On one of the popular Internet sites, black color displays the days of growth of quotations, while the days of decline in quotes are displayed in red.
The purpose of chart interpretation is to determine the extent to which buyers or sellers control the situation with stock prices. In the "bullish" market, holders of shares may be tempted to sell shares, but only if they are able to obtain higher prices from buyers. In a "bearish" market, buyers can achieve a more profitable price for themselves, when sellers will be more willing to sell their shares than buyers - buy them.
Analyzing the history of price fluctuations, you are trying to understand the psychology of the market that conditions these price movements. The conclusion that when prices rise, buyers turn out to be more interested in buying stocks than sellers in selling them, it seems quite logical. In a rising market, buyers must continue to “cheat” prices, trying to convince sellers to part with their shares. The increase in prices attracts additional buyers, who have to even more "wind" prices, trying to convince even the most "tight-knit" sellers to part with their shares.
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