Chart patterns are a very effective tool for traders to embrace and use to their complete advantage. Chart patterns are used to inform you of signaling reversal or continuation of the current trend. They also help identify entry and exit points of a position. That’s why as a trader, informing yourself with as much knowledge and educational background as possible is the best way to make sure you're successful when trading.
Support and resistance is the most used method for FOREX trading. This is the reason it is one of the first strategies that Apiary Fund reviews. On top of being the most used, it is also one of the easiest methods to use in one's trading for the most part. What the areas, areas being the key word, of support and resistance show is a reliable spot for reversals or breakouts. Now technically, at any point and on any candle, you can have a point for a breakout of price or a price reversal. The support and resistance, however, shows a reputable place and an easier entry point than just any random spot on the candle.
Candlesticks are the most commonly used method for trading in the FOREX markets. They show the most vital four analytical points when trading. The only thing they are missing is the volume of trades being pushed through. Although, there are Volume Candlesticks that do present that information for you. However, with the FOREX market’s lack of centralization, an accurate measurement on volume is near impossible. So, with FOREX, candlesticks show the vitals: High, Low, Open, and Close.