How to analyze the market with Monfex

Market Watch

Market Watch window shows all available cryptocurrencies and their real-time prices. Market Watch is located in the lower left-hand side of the trading platform, as presented below:

To open a chart, simply click on a particular cryptocurrency name in the Market Watch.

Charts

 

A chart allows you to visualize historical price changes of cryptocurrencies. It is an essential tool of market analysis. Traders analyze real-time price changes and make trading decisions by looking at price charts.

 

A location of a chart window is presented on a picture below.

In the trading platform, you can customize the appearance of charts. In addition, you can apply and remove various objects to charts, such as trendlines and trend channels, and add various technical indicators to perform market analysis.

How to Open a Chart

You can quickly open a chart by selecting a particular cryptocurrency in the Market Watch window.

In addition, you can use the Chart Switching Bar to switch between charts currently open in the trading platform. This bar contains separate tabs for every chart that is currently open in the trading platform.

It is located above the chart window:

To select a chart of a particular cryptocurrency, just click on a tab containing its name. You can close all charts by right clicking on any tab and pressing the “Close all” button.

How to Set a Chart Type

Monfex trading platform supports all of the most popular chart types, including Bars, Japanese candlesticks, Heikin Ashi, Line and Area. You can switch between the chart types using the Charts menu, located on the toolbar.

How to Set a Chart Timeframe

A timeframe is a time interval of prices used to build a chart of a cryptocurrency. This is the time of one bar or candlestick, depending on which chart type you select.

There are 9 chart timeframes from one minute to one month available in the trading platform. You can switch between the timeframes using the Timeframe menu, located on the toolbar.

The timeframe should be selected depending on the type of trend you want to identify. In particular, the timeframes from M1 to M15 are used for short-term trading and intraday scalping. Mid-term timeframes are from M30 to H4, which are usually used for intraweek trading. Higher timeframes allow you to analyze longer-term trends, such as weekly and monthly trends.

 

More Monfex tutorials:

1. Getting Started with Monfex

2. How to set up a Monfex account

3. How to fund your Monfex account

4. How to buy Bitcoin to trade on Monfex

5. How to buy Ethereum to trade on Monfex

6. How to buy Tether to trade on Monfex

7. How to analyze the market with Monfex

8. How to enter a trade on Monfex

9. How to exit a trade on Monfex

10. How to make trading decisions using Monfex tools

11. How to withdraw funds on Monfex

12. Account security on Monfex

13. Purchasing cryptocurrency using your credit card on Monfex