How Do You Analyze Various Types of Charts?
How to Analyze Various Types of Charts
There are three types of charts: Line chart, bar chart and candlestick chart.
Candlesticks Charts - the candlesticks charts use the same price info as gold bar charts (open, high, low, and close). However, candlesticks charts draw the charts in a more easily identifiable way that resembles a candlestick with wicks on both ends.
How Do I Read Candles Charts?
The rectangle section of the candle-stick is known as the body.
The high & low are referered to as shadows & are drawn as poking lines.
Interpret Different Types of Charts?
The colour of the candlestick is either blue or red
- (Blue or Green Color candle) - price moved upward
- (Red Color candlestick) - price headed down
Most platforms like the MT4 platform, use colours to mark direction of the price. The Colours used are blue or green: - green candle when the price moves up-ward, red candlestick when price moves downwards.
What's a Line Charts?
A line chart in Gold draws the closing xauusd price of a xauusd & connects this closing xauusd price to the closing xauusd price of the next period therefore forming a continuous gold line chart which draws the movement of price movement.
Line Chart - draws a continuous line connecting closing xauusd prices of a on the price chart.
Analyze Various Types of Charts?
What is a Bar Charts?
Bar Charts are charts representations of the price displayed as a sequence of O-H-C-L bars. O H C L represents OPEN HIGH LOW & CLOSE. The Opening xauusd price is highlighted as a horizontal dash to the left and closing xauusd price as a horizontal dash to the right.
How to Analyze Various Types of Charts
How Do I Read Different Types of Charts
Study More Lessons & Tutorials:
- MT4 Candle Recognition Trading Tutorial
- Gold Platform MetaTrader 4 Gold Software Connection Bars on Status Bar
- How Do You Trade MT5 Pending Gold Orders in MT5 Platform?
- Bollinger Bands Gold Strategy Buy & Sell XAU USD Signals
- Explanation of How to Read XAU/USD Charts
- How to Trade Coppock Curve Technical Indicator Buy FX Trading Signal
- The Three Gold Charts Types That are Used in Gold Analysis
- How Do You Trade Support Resistance Levels in an Upwards Gold Trend?
