Historical charts, patterns and signals

chart software on a screen

Professional forex traders use charts to check the markets daily, and view historical data to make informed decisions as part of their overall trading strategy.

Basing decisions on historical forex charts, records and patterns in order to make sound and rational decisions is common sense. For example, cable has sat below 2.40 since 1980 and has never been back to the same spot ever since. Such data, must be valuable to a position trader.

Charts can give you a long term report of the position and strength of certain pairs. Inevitably there will be pairs that remain strong throughout.

charts on a screen

Charts are crucial for making rational decisions based on signals and patterns

As well as trading software, credible historical forex charts are made available by economic institutions that have been involved in the long term analysis of fundamental and technical trends.

It is important that you derive your historical charts from a reputable institution as the value of the chart is diminished based on the lack of accuracy.