Correct chart reading is very important as a trader. If you don’t know how to correctly read the charts, you are going to always read the market sentiment wrong. If you are not a trading freshman, you should watch this video tutorial on chart reading 101. Always trade in the direction of the trend. So your most important objective of charting reading is to determine the trend correctly and then make the right entry in that direction. There is no need to predict. Just follow the direction shown by the charts. So don’t try to predict what will happen. Just react to what is happening on the charts. You shouldn’t be trading currency pairs if you can’t tell whether it is a downtrend, uptrend or a flat market just be looking at the charts.
http://www.youtube.com/watch?v=pWD08Wn-67Y
Watch this important video tutorial on how to read charts correctly.
http://www.youtube.com/watch?v=T_mNnWB9O2c