All Candles Patterns in Gold Trading

Advanced Candles Patterns Tutorial

Brief History

Candlesticks were developed in the 18th century by the legendary rice trader known as Homma Munehisa to give the overview of opening, high, low & closing market xauusd price over a given period of time.

They were used by the legendary rice trader to predict future market xauusd prices. After dominating in the rice market, Munehisa after that eventually moved to Tokyo Exchange where he gained huge fortunes using this analysis method. He is said to have made over one hundred consecutive winning trades.

Types of Gold Trading charts

There are Three types of charts that are used in Gold: Line, bar and candles.

Line - plots a continuous line connecting closing xauusd prices of gold.

Bars- displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW & CLOSE. The Opening xauusd price is displayed as a horizontal dash on the left & closing xauusd price as a horizontal dash on the right.

The main disadvantage of a bars is that it is not visually appealing, therefore most traders don't use them.

Candlesticks Patterns - Best Gold Candlesticks Book - these use the same price data as bar charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.

How to Interpret Best XAUUSD Candlesticks Book

The rectangle part is known as the body.

The high & low are described as shadows & plotted as poking lines.

The color is either blue or red

• (Blue or Green Color) - Gold Prices moved up
• (Red Color) - Gold Prices moved down

Most gold trading platforms like the MT4, use colors to mark the direction. Colors used are blue or green: when price moves up, red: when price moves down.

Candle Sticks Vs. Bar Chart

When candles are used it is very easy to see if the xauusd price moved up or down as opposed to when bars are used.

The Best Gold Candlesticks Book also have very many formations that are used to trade the Gold Trading market. Best Gold Candlesticks Book - candlesticks patterns have different technical analysis interpretation and the most common Best Gold Candlesticks Book are:

The above Best Gold Candlesticks Book and Patterns is what makes the Japanese candles patterns popular among xauusd trading technical traders & it is why this type of xauusd analysis are the most widely used when it comes to interpreting the gold trading market. The analysis for these Japanese candlesticks pattern formations in gold trading is the same as that one used in stocks trading - Best Gold Candlesticks Book.

Drawing japanese Candles Gold Charts in MT4 Software

To draw Candlestick Charts on the MT4, select the MetaTrader 4 charts drawing tools within the "MT4 Toolbar" - shown below.

To view this tool-bar in MetaTrader 4 navigate to "View" Next to file at top left corner of the MT4 Platform, Click "View", Then Click "Tool bars", Then check the "Charts" Button. The above Charts toolbar will appear.

Once the above toolbar, pops up you can then select the type you want to convert to, If you want to view using the bar format, click the bar chart tool button key as shown above, for line format click the line chart tool button, for Japanese candles format click the "candlesticks chart tool button".

All Candles Patterns Tutorial. Advanced Candles Patterns Book PDF - Advanced Candles Patterns Tutorial. Bullish XAUUSD Candles Patterns & Bearish XAUUSD Candles Patterns & Candlestick Continuation Patterns PDF - How to Read Candlestick Chart for Day Trading