News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Dow Jones broke beneath the rising trendline from March 2020 for the first time. Get your #Dow market update from @PeterHanksFX here:https://t.co/PtsZ7xZPsO https://t.co/lU9e2uQ5a6
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: France 40: 0.07% FTSE 100: 0.03% Germany 30: 0.03% US 500: 0.00% Wall Street: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/nCmgxiNFGQ
  • $USD continues to catch a bid following yesterday's FOMC meeting $USD $DXY https://t.co/VqfvlTwlps
  • $NQ rally has run up to fresh ath https://t.co/JD9uSmki6D https://t.co/eVBDtNMCe9
  • NY Fed accepts $756 billion in reverse repo operations, new record high $USD $DXY
  • If you follow my content, you know that I've been harping on the threat of Fed tapering and upside risk to US Dollar outlook for nearly a month. Following its largest two-day rally in over a year, the $DXY has now gained 2.2% since my bullish call. Time for a victory lap 🏆🤷‍♂️ https://t.co/rxicml7R1p
  • US #Dollar Outlook: $DXY Surges as #FOMC Fuels Major $USD Breakout- https://t.co/tKDHTgprmM https://t.co/GPG2eOScsV
  • ECB's Visco: - Monetary & fiscal policies may be unwound differently
  • ECB's Visco: - The path of global recovery is still uncertain - Supply and demand issues complicate the inflation outlook
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 80.73%, while traders in France 40 are at opposite extremes with 77.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4Yu6qFQ8ho
How Many Candles Should be Viewed on a Chart?

How Many Candles Should be Viewed on a Chart?

Richard Krivo, Trading Instructor

How Many Candles Should Be Viewed on a Chart

Student's Question:When plotting the lines on a daily chart, how far should I zoom in. Approximately how many candles should I go off of?Instructor's Response:Good question...

A general rule of thumb is that on a Daily chart you should be looking at about one year’s worth of trading data. For a 4 hour chart three to four months will suffice and on a 1 hour chart a month would work.As far as candles go, it is recommended that at least 50-75 candles be showing on the chart to obtain a better overview of how the pair has been moving over time.When a trader "expands" a chart and just looks at 15 to 20 candles or less, they are doing themselves a disservice in that they cannot see the big picture and may not be able to see prior support/resistance levelsthat could very well impact their trade.Take a look at these historical chart examples below...

How_Many_Candles_Should_be_Viewed_on_a_Chart_body_52450d1269470234-post-day-chart-3-24-10-.png, How Many Candles Should be Viewed on a Chart?How_Many_Candles_Should_be_Viewed_on_a_Chart_body_52451d1269470249-post-day-chart-3-24-10-b.png, How Many Candles Should be Viewed on a Chart?

Looking at the chart with about 60 candles on it you can readily see how the full view of the chart provides much better insight for the trader. In this case, the trendline support would clearly play a part in this analysis and it would not even be visible if the trader chose to “expand” the chart.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES