How to Read a Candlestick Chart
Candle Stick Charts - these candlestick charts use the xauusd price data (open, high, low, and close xauusd price) to draw xauusd price movement in an identifiable way which resembles a candle with wicks on both ends.
Trading XAUUSD Interpret Candlestick Charts
The rectangle part is known as the body.
The high & low of the xauusd price are described as shadows which are plotted as poking lines.
Interpret Candlestick Charts - How to Analyze Candlestick Charts?
The color of the xauusd candlestick is either blue or red:
- Blue Color Candles or Green Color Candles - Gold Prices moved up
- Red Color Candles - Gold Prices moved down
Most trading xauusd softwares like the MT4 Trading Gold Platform, use colors to mark the direction of the xauusd price. Gold candlesticks colors used are blue or green - when price moves up, - color of the gold candlestick is red - when price moves down.
Interpret Candlestick Charts - How to Analyze Candlestick Charts
When gold candlesticks trading charts are used it is very easy to determine if xauusd price moved up or xauusd price moved down as opposed to when gold bar charts are used.
The Japanese candle charts trading analysis also have very many xauusd candlesticks patterns that are used to analyze and trade Gold. These xauusd chart patterns have different xauusd trading analysis and the most common are:
Marubozu and Doji Candle Patterns
Reversal Patterns XAUUSD Candlestick Patterns XAUUSD Candle Patterns
Inverted Hammer Candle Pattern & Shooting Star Candle Patterns
Piercing Line Gold Candle Pattern and Dark Cloud Cover Candle Patterns
Morning Star Candles & Evening Star Candles XAUUSD Candle Patterns
Interpret Candle Charts?
