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To help you launch your trading career we will outline a few tips to assist you in understanding and reading charts.

Firstly, one needs to know what a chart is before attempting to dissect the information presented.

This chart represents only a closing price over a period of time, the closing price is often considered the most important element in analysing data.

This is in essence, how the line chart is formed: by connecting the closing prices over a set time frame.

While, there are the fundamental traders who prefer to follow news sources that offer actual information on economic growth, employment situations, political threats and interest rates.

Ava Trade will guide you in reading price charts and predicting their accuracy.

They are pretty self-explanatory as they are time based and are part of the trendline you see when reading a chart.

There are long-term, short-term and intermediate trends that coexist and may have the same, as well as the opposite directions.Filled / coloured candlesticks where the close price is less than the open will indicate a SELL position.Long versus short bodies will indicate the buy or sell pressure among traders.Dating as far back as the 17 century, the Japanese began using the technical analysis to trade on rice, although quiet different to the US version created around the 1900s their principles are similar.In order to start creating and reading a candlestick chart, one should know that the data contains highs, lows, open and close prices.When you look at a chart and find a grouping of data plotted in a general direction, one can figure out an overall direction that an instrument is moving towards.Every chart and graph differs, on most charts trend can be determined quiet easily, while other chart trends can be more complex.The open and the close price are represented by a horizontal shorter line.The open price is the ‘dash’ that is located on the left side of the vertical bar and conversely the close price indicated by a similar horizontal line, however, to the right side of the bar.Trends generally move in a series of peaks and valleys (highs and lows).When you refer to a Bullish trend you are looking at a succession of mounting highs and lows and a Bearish trend is a sequence of descending lows and highs.

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