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The most common choices for binary options traders are 1 minute, 5 minutes, 15 minutes and 1 hour timeframes. If you do not know what I am talking about, read on! Candle graphs have become the most preferred choice among all modern day traders. What are candle graphs? How to read candle graphs? Surely we all know what a line graph looks like. Graph of price development using an M5 timeframe. Wicks represent the fluctuation of price, meaning how high or low in the given timeframe the price has gotten, but did not stay there. However, if you have any questions, do not hesitate to write me a comment below the article.
Other than that, people also use 4 hour, 1 day, 1 week and a 1 month timeframes. For each graph, we can choose so called timeframe, which is just an option of how large period of time one candle represents. The wicks are represented by a line, where as the candle body itself looks like a rectangle. Candle graph looks differently, but it shows us the same thing, and even more. Today I will show you how not difficult it is to read candle graphs, even though it may seem complicated. When trading binary options we will probably use mostly the first three.
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