How to Interpret/Analyze XAUUSD MetaTrader 4 Charts Beginners Gold Lesson
There are 3 types of charts used in XAUUSD: Line, bar and candlesticks - how to read charts beginner traders guide.
How to Interpret/Analyze MT4 Trading Setups
Line Charts - line charts draws a continuous line joining closing prices of gold.
Gold Line MT4 Chart - How Can I Analyze XAU/USD MT4 Charts Beginners Gold Lesson
MetaTrader 4 Chart Bar Charts - xau/usd bar charts are shown as sequence of O-H-C-L bars. OHCL represents OPEN HIGH LOW & CLOSE. Opening price is illustrated as a horizontal dash onto the left and the closing price is illustrated as a horizontal dash onto the right side.
XAUUSD Bar MetaTrader 4 Chart - How Can I Analyze XAU/USD MT4 Charts Beginners Gold Lesson
Main disadvantage of a bar chart MT4 Chart is that it is not visually appealing and identifiable, thence most traders don't use them.
Candlesticks Chart MetaTrader 4 Chart - these candles chart MT4 Chart use the same gold price data as the bar charts (open, high, low, & close). However, they are shown in a more visually identifiable and appealing way that looks like a candlestick with wicks on both its ends.
How to Analyze/Interpret Candles Gold MT4 Charts
The rectangle part is referred to as the body.
The high & low are referred to as shadows & drawn as poking and protruding lines.
Gold Candle-sticks Charts
The colour of xauusd candlestick is either blue or red:
- (Blue or Green Colour Candlesticks) - Prices moved upward
- (Red Color Candles) - Prices moved downwards
Most trading platforms such as the MT4 Software Platform, use colors to mark direction of gold price. MT4 Chart Candles color used are blue or green: when price moves upwards, color of MT4 Chart candle is blue: when the price moves downwards, color of MetaTrader 4 Chart candlestick is red.
How to Interpret/Analyze XAUUSD MetaTrader 4 Charts Beginners Gold Lesson
When XAUUSD MT4 candles charts are used it is very easy to see if the gold trading price moved up or down as compared to when MT4 bar charts are used.
The Japanese candle-sticks charts techniques also have very many setups & setups that are used to trade the Markets. These xauusd chart patterns have different xauusd analysis interpretation and the most common are:
How to Interpret/Analyze XAUUSD MT4 Charts Beginner Traders DXAU/USDX Lesson Guide
The above MetaTrader 4 Chart patterns is what makes the Japanese Gold MT4 Charts candles patterns popular among traders & it is why this type of technical MT4 Chart analysis are most commonly used when it comes to interpreting the market.
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