I have used a word "chart point" for several times. What is like a chart point?

A chart expresses the movement of a pair of currency in many ways and interlocks it using time axis. A candle chart is popular one. There are many kinds of chart. Whatever charts there are, you can find out some sort of rule watching the chart.

For example, the movement in price is wriggle work in many times. Small zigzag is gathered and middle zigzag is made from that. And it made big zigzag in a long time.

So there are rules and regression in a chart. The clearest example is here. If last year's top high price is 122 yen, there is still possibility that 122 yen is probably a limit in this year too. It means "chart point" it is something like "it will be different in this time if it crosses over" the word "chart point" is used in such a way.

There are many kinds of chart as to it's time axis such as one-minute, daily, and one-hour. Monthly, weekly, daily, one-hour, five-minute, and one-minute chart are usually used. In day trade, one-minute chart or shorter one-second chart are used. You trade by reference to the movement of busy chart in every minute or every second.

If you trade in a day or several days term, five-minute or one-hour chart is fair. You can see recent flow of several days using one-hour chart. You can view a fluctuation in a large sense.

If you trade in several days or weeks, one-hour or daily chart are fair to see. If longer trade or you want to see a longstanding flow, weekly chart is useful too. You may not be able to see a directional movement using only short-term chart. You had better see trend by reference to some kinds of chart.

What you need to remember to see chart point is a word "Fibonacci".

Fibonacci is a medieval mathematician. When this word is used in trade, it means "golden ration". Put simply, it is 1 to 1.618. Dropping fractions, it can be interpreted 62%. This 62 %( 38% watching from the opposite) should be a chart point.

I do not explain why. But, this number becomes a charm point many times mysteriously. When 100 yen to the dollar exchange rate is up to 120 yen, and decreases from here, a gap of bottom is 38% , 62% of 100 points. So, a pattern which decreases down to 116.2~113.8 yen and stop happens a lot.

No body knows it stops because the numbers have something meanings or every body thinks "it should be stopped because of Fib number".

Another number, 50%, is easy to see and its chart point is 116.2 yen, 115 yen, and 113.8 yen. The trade considering such a chart point is "Fibonacci retracement".