Trading Forex Using Line Chart
Therefore, instead of using candlestick charts, savvy traders use line charts and consider a relevant test only when the line chart touches the moving average. here’s the audusd chart. it shows a death cross (ma50 moving below ma200) and the price testing the ma50. Tradinglinecharts interpretation. the interpretation of line charts is simple. they are basically price charts that connect the closing prices of a given market over a span of time. as the line charts only show closing prices, they offer a great value to traders by reducing noise.. this chart is also good for visualization of the overall trend of a security/ stock. In the weekly chart, the uptrend line in eur/aud chart is intact. so, i am expecting a rapid rise in eur/aud very soon. since the analysis is based on the weekly chart, we need to manage our entries carefully. i am looking to put buy trades between 1. 61 to 1. 63 with first target at 1. 70 and sl below the uptrend line. What are supply and demand zones. so, what...