How to Read Forex Charts in Bevona Trade

Charts are the foundation of technical analysis. Bevona Trade provides professional-grade candlestick charts across all timeframes. Learning to read them is the single most important skill you can develop as a trader.

Chart Types

• Candlestick — Shows Open, High, Low, and Close for each period. The body shows price movement; the wicks show extremes. Most information-rich and recommended.
• Line — Plots only the closing price. Simple and clean, good for spotting overall trends.
• Bar (OHLC) — Similar data to candlestick but displayed as vertical bars with horizontal ticks.

Understanding Timeframes

Each candle on the chart represents a specific time period. Choosing the right timeframe depends on your trading style:

Support and Resistance

Support is a price level where buyers tend to step in and halt a downtrend. Resistance is where sellers tend to appear and cap a rally. These levels are found by looking for areas where price has reversed multiple times in the past. In Bevona Trade, you can draw horizontal lines on the chart by tapping the drawing tool icon.

Key Candlestick Patterns

• Doji — Open and close at nearly the same price. Signals indecision and possible reversal.
• Hammer — Small body at the top, long lower wick. Bullish reversal signal after a downtrend.
• Engulfing — A large candle that completely engulfs the previous one. Strong reversal signal.
• Shooting Star — Small body at the bottom, long upper wick. Bearish reversal signal after an uptrend.

Trend Identification

A market is in an uptrend when it makes higher highs and higher lows. It is in a downtrend when it makes lower highs and lower lows. When neither condition holds, the market is ranging. Always trade in the direction of the dominant trend for higher-probability setups.