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When 15 big currencies are charted over (ref:Optimists page 92) it is clear that currencies don't cycle. To trade profitably we must not only have winning tradesRead more
Forex tick chart trading
the world of professional scalping based on price action. If you are interested, contact me via the contact form on this website. Of those four aspects, we really only pay attention to 3 of them, the open of the bar isnt important since we are looking to anticipate the future not look at the past. So, during important news releases or market opening, the tick charts can move really, really fast. The same way during low activity periods (like noon or after-hours) tick charts only display a few bars as opposed to time based charts where you'll usually see a row of smaller less important candles. Five ticks bars may form in the first minute alone. Fewer bars form when there are fewer transactions, warning a trader that activity levels are low or dropping.
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For example, the opening price of a 1 minute chart and 5 minute chart would be different, right? Throughout the day there are active and slower times, where many or few transactions occur. During the lunch hour, though, when the number of transaction decreases, it may take five minutes before a single tick bar is created. But, how would you decide on which tick charts to watch? The one-minute chart, on the other hand, continues to produce price bars every minute as long as there is one transaction in that minute. A Note on Data Feeds for Tick Charts When you are looking for a data feed I would highly recommend that you ask the question whether the data feed will be bundled or not. Candlesticks and bar charts are the most popular. Tick based charts represent price change during given number of transactions on the market. Open: Where the new bar opens, close: There the bar closes. In fact, you would find that a lot of day traders often watch tick charts based on Fibonacci numbers. What are tick charts, charts used for day trading can be based on several different criteria, some of them being time, ticks, price range or volume.
And if you still want to trade.
Forex, simply go for the Currency futures on the CME which resemble what is happening on the.
Forex market but with complete volume data available and they are quite liquid now, plus tick charts work great, so go for it if you want.
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