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Technical Analysis Tools: Understanding Charts
Understanding the Charts
Live chart to help analyze market trends, by time intervals:
Before you understand how to read various charts and figure out what they indicate, we should know the different kinds of charts that are there.
Bar Charts
These are the most common kind of price charts and show the movement in price with time. The bar represents a particular period of time - depending on what kind of information you are looking for, this period can be as little as a minute or as long as a few years.
Candlestick Charts
A variation of the bar charts, the candlestick charts does not merely show the price for the time interval. Instead it gives a few more details like the opening and closing price as also the high and low during that period of time.
Figure and Point Charts
Unlike bar charts where the price is tracked with time, in the figure and point charts, marks are used to indicate the changes in the price and hence in its movement.