Looking at the chart

As a forex trader you certainly cannot trade without the chart. The chart is exactly what gives you a sense of direction as to whether to go long or go short on a particular currency pair.

When looking at a chart, you will the current price marked with a line, and you will also the previous trend patterns with the time of that price at the base of the chart.

There are actually several chart patterns to help you with your speculation. The one you see often times is the bar chart. The bar chart is one with a thickened vertical line showing two small horizontal edges, one at the upper side and the other at the lower side.

These small horizontal edges indicates the opening price at the beginning of a particular time, and the close price at the end of that time period. The time period can vary very widely. It can vary from one minutes, to hours, to days, months, and years. But the choice of time period depends on you.

Another chart pattern you will see is the candlestick pattern. This chart pattern is mostly used because it provides the ability to forcast market prices. The ability is seen in the colors of the candlestick chart pattern. The color helps you know when the prices are going up, or going down, and then specualtions can be made. Also take note that it is placed over time.

You can also consider the point and figure pattern. This type of chart pattern gives you the ability to determine a change in market movement or direction. Just like the bar charts, you will see the similarities except that the Xs and the Os gives you this mentioned ability. You must also take note that with the point and figure chart patterns you will not be see the time period. This practically doesn't work with time like the other ones mentioned above.

Different people build their dependednce on these various chart patterns, which is a good idea. Everyone should not be using the bar chart, or the candlestick. They provide you with different price direction and market speculation features that will help you make the right choice on when to enter and get out of the market.

Also the study of these various chart pattern will help give you a combined accurate speculation of market trends, and direction. For those who just get used to one, you certainly may not be able to give a more accurate analysis of market directions.
Take use of these informations and let them get you to your desire profit making point in your trading experience.