Gap in forex charts is a phenomenon that occurs when there is a significant difference between the closing price of a trading session and the opening price of the next session. This is usually caused by a sudden shift in market sentiment or a major news event that impacts the currency pair being traded. Understanding how to identify gaps in forex charts is important for traders as it can provide valuable information about market trends and potential trading opportunities. In this article, we will explore how to see gaps in forex charts using Oanda and troubleshoot any issues that may arise.
Step 1: Choose the Appropriate Forex Chart
Before we dive into identifying gaps in forex charts, it is important to choose the appropriate forex chart. Oanda offers a variety of chart types including candlestick, line, and bar charts. Candlestick charts are the most commonly used chart type as they provide the most detailed information about market activity. To access the forex charts, log in to your Oanda account and select the currency pair you wish to analyze. From there, click on the “Charts” tab to view the available chart types.
Step 2: Zoom In
Once you have selected the appropriate chart type, zoom in on the chart to get a closer look at the price action. This will allow you to better identify gaps in the chart. To zoom in on the chart, use the scroll wheel on your mouse or click on the “Zoom in” button located at the top of the chart.
Step 3: Look for Gaps
To identify gaps in forex charts, look for a space between the closing price of one session and the opening price of the next session. This space will appear as a blank area on the chart. The size of the gap will vary depending on the magnitude of the price shift. In some cases, the gap may be so large that it spans multiple sessions.
Step 4: Troubleshoot Issues
If you are having trouble seeing gaps in forex charts using Oanda, there are a few troubleshooting steps you can take. First, make sure that you have selected the appropriate chart type and zoomed in on the chart. If you are still having trouble seeing gaps, try adjusting the chart settings such as the time frame, chart style, and indicators. You can also try refreshing the chart or switching to a different currency pair to see if that helps.
Conclusion
Identifying gaps in forex charts is an important skill for traders as it can provide valuable information about market trends and potential trading opportunities. Using Oanda, traders can easily view forex charts and zoom in to better identify gaps. If you are having trouble seeing gaps in forex charts, try troubleshooting by adjusting the chart settings or refreshing the chart. By understanding how to see gaps in forex charts, traders can make more informed trading decisions and potentially increase their profits.
