The houly currency chart is my favorite chart for my trading style. The trades typically last 3-7 days and
allow you to enter the trade with faily low risk of 25-50 points ( $50-100 ), which is good when you first learn
currency trading. As always it is important to look at the longer term charts first to be sure you are
trading in the direction of the primary trend. The most frustrating time to trade the hourly chart is
when the market is in a corrective phase, it will often give false signals. That's why it's important to keep
your bets small and let your profits run once you get the trade right.
This is a houry Euro Candle Stick chart where each bar represents 1 hour of euro price
action. The Blue candles are hours when the euro rose and the red candles are when the Euro fell
against the dollar. I use the same moving averages for the houly chart that I used on the daily, so
the lines are the 20, 50 and 200 day moving averages. You will see that the 200 day
moving average is very important on the hourly charts.