How Do I Trade a 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 Trade these gold charts from this learn gold charts guide.
This learn gold charts tutorial will show you how to Trade these candlesticks charts that are commonly used in gold trading.
XAUUSD Trade Candles Charts
Line Charts - How Do I Trade Line Charts? - gold line charts draws a continuous line connecting closing xauusd prices of a gold.
Gold Trade a Gold Chart? - How Do I Trade Gold Charts?
Gold Bars Charts - How Do I Trade Bar Charts? - 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.
Gold Trade a Gold Chart? - How Do I Trade Gold Charts? - How Do I Trade Bar Charts?
Main disadvantage of a bar charts is that these gold charts not visually appealing, therefore most traders don't use them.
Candle Sticks Charts - How to Trade Candlesticks Charts? - 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.
XAUUSD Trade a 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.
Candle Sticks Charts - How to Trade Candles Charts
The color of the xauusd candlestick is either blue or red:
- - Blue or Green Color Gold Candles - Gold prices moved upward
- - Red Color Gold Candles - Gold prices moved downwards
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.
How to Trade Candles Charts?
When Gold candles charts are used it's very easy to see if the xauusd price moved upwards or downward as opposed to when gold bar charts are used.
How to Trade Candles Charts?
