How Do You Interpret Different Types of Gold Charts?
How to Interpret Different Types of XAUUSD Charts
There are 3 types of gold charts: Line gold chart, bar chart & candlestick chart.
Candle Sticks Charts - the candles charts use the same price data as gold bar charts (open, high, low, and close). However, candlesticks charts represent the charts in a much more easily identifiable way which resembles a candle with wicks on both ends.
How Do I Read Candlesticks Charts?
The rectangle part of the candlestick is called the body.
The high & low are described as shadows & are drawn as poking lines.
Interpret Different Types of Gold Charts?
The color of the xauusd trading candlestick is either blue or red
- (Blue or Green Color candle) - Gold price moved up
- (Red Color candle) - Gold price moved down
Most xauusd trading platforms like the MT4 platform, use colors to mark the direction of the xauusd price. Colors used are blue or green: - green gold candle when price moves upward, red gold candle stick when price moves downwards.
What is 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 trading period hence forming a continuous gold line chart which plots the movement of xauusd price movement.
Line Chart - draws a continuous line connecting closing xauusd prices of a on the xauusd price chart.
Interpret Different Types of Gold Charts?
What is a Bar Charts?
Bar Charts are charts representation of the xauusd price displayed as sequence of OHCL bars. O-H-C-L 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 Analyze Different Types of Gold Charts
How Do I Read Different Types of Gold Charts
