How Do I Interpret Candlestick Chart?
A beginner gold trading guide to xauusd trading - how to read gold charts. The 3 different types of xauusd charts are line chart, bar chart & candlestick chart - these oftenly used gold chart types are described in this learn gold trading guide & beginner traders can learn how to Analyze these gold charts from this learn gold charts guide.
This learn gold charts tutorial will show you how to Analyze these candlesticks charts that are commonly used in gold trading.
How to Analyze Candlesticks Chart Technical Analysis
Line Chart Technical Analysis - How Do You Analyze Line Chart Technical Analysis? - gold line charts draws a continuous line connecting closing xauusd prices of a gold.
How Do You Interpret XAUUSD Chart Technical Analysis?
Gold Bars Chart Technical Analysis - gold bar charts are displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW and CLOSE. The Opening xauusd price is displayed as a horizontal dash on the left & closing xauusd price as a horizontal dash on the right.
How to Interpret Gold Chart? - How Do I Analyze XAUUSD Chart Technical Analysis?
Main disadvantage of a bar charts is that these gold charts not visually appealing, therefore most traders don't use them.
Candles Chart Technical Analysis - How to Analyze Candlesticks Chart Technical Analysis? - these candlesticks charts use the same price data as bar charts - open, high, low, and close. However, candlesticks charts are drawn in a much more visually identifiable way which looks like a candle with wicks on both ends.
How to Analyze Candle Chart
Rectangle part of the gold candlestick is called the body.
The high and low are described as shadows & are plotted as poking lines.
Candles Chart Technical Analysis - How to Analyze Candlesticks Chart Technical Analysis
The color of the xauusd candlestick is either blue or red:
- - Blue or Green Color Gold Candles - Gold prices moved upwards
- - Red Color Gold Candles - Gold prices moved downward
Most gold trading platforms like the MT4 Gold Trading Platform, use colors to mark the direction of the xauusd price. Gold candlesticks colors used are blue or green: color of gold candle-stick is blue when price moves up - color of candlestick is red when price moves down.
Analyze Candles Chart Technical Analysis?
When Gold candles charts are used it's very easy to see if the xauusd price moved upward or downward as opposed to when gold bar charts are used.
Analyze Candles Chart Technical Analysis?
