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CHART TYPES

Charting is human psychology; all price activities taking place in the market can be plotted on a chart and those charts depict the normal behavior of various market participants. In other words charting is yet another medium for analyzing human behavior, plotted on a chart. In order to analyze any market, the history is usually plotted on a chart formation, so one can see what the behavior and movement of the market is, for that, a number of different methods are applied by different individuals. The basic motive or objective for plotting any chart is to identify a trend.

BAR CHART
Bar analysis shows the open, high, low and closing price data for each interval. A vertical line joins the high and low values, a dash to the left indicates the open and a dash to the right indicates the close. If the high and low are at the same price a ` – ` is displayed.
Bar Chart

LINE CHART
Line Chart simply plots a single value such as closing for a time interval. The analysis can be presented visually in a number of different ways: a continuous line which is angled, steeped or splinted; a series of individual points; a vertical line for each interval (forest) or a vertical bar for each interval (histogram).
Line Chart

CANDLESTICK CHARTS
In the 1600 AD the Japanese developed a method of technical analysis to analyze the price of rice contracts. This technique is called candlestick charting. Candlestick charts display the open, high, low and closing prices in a format similar to a bar chart, in a manner that extenuates the relationship between the opening and closing prices. Candlestick charts are simply a new way of looking at prices. They do not involve any calculation.
Candel Stick

POINT AND FIGURE CHARTS
High/Low Point and Figure are basically the same as Point and Figure analysis except that High/Low point and Figure analysis are based on high and low prices instead of closing prices. The common uses of Point and Figure analysis are to:
Identify trends
Identify support and resistance areas
Generate buy and sell signals
Point and Figure

 

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