Glossary of terms
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Pips
This is the minimum value by which the price of currencies may change, usually occurs in the fourth place after the decimal point. Changing of a pair from 1.2500 to 1.2501 indicates a variation of one pip. In a colloquial Forex dictionary, the value of 100 pips is called "figure".
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Price formations
There are certain shapes or patterns which are arranged on price charts announcing the reversal or continuation of the trend.