How to Read XAUUSD MetaTrader 4 Charts Beginners Gold Guide
There are Three types of charts used in XAUUSD: Line, bar and candlesticks - how to read charts beginner traders guide.
How to Read MetaTrader 4 Trading Pattern Setups
Line Charts - line charts draws a continuous line connecting closing prices of gold.
Gold Line MT4 Chart - How Do I Analyze XAUUSD MT4 Charts Beginners Gold Lesson
MT4 Chart Bar Charts - gold trading bar charts are displayed as sequence of O-H-C-L bars. OHCL represents OPEN HIGH LOW & CLOSE. Opening price is portrayed as a horizontal dash to the left & the closing price is illustrated as a horizontal dash to the right.
XAUUSD Bar MetaTrader 4 Chart - How Do I Analyze XAUUSD MT4 Charts Beginners Gold Lesson
Main disadvantage of a bar chart MetaTrader 4 Chart is that it is not visually appealing, therefore most traders don't use them.
Candlesticks Chart MT4 Chart - these candlesticks chart MT4 Chart use the same xauusd price data as the bar charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way that looks like a candlestick with wicks on both its ends.
How to Analyze Candles Gold MetaTrader 4 Charts
The rectangle part is referred to as the body.
The high & low are referered to as shadows & drawn as poking 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 like the MetaTrader 4 Platform Software, use colors to mark direction of xauusd price. MetaTrader 4 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 MT4 Chart candle is red.
How to Read XAUUSD MetaTrader 4 Charts Beginners Gold Guide
When Gold MT4 candlesticks charts are used it's very easy to see if the xauusd trading price moved up or down as opposed to when Meta Trader 4 bar charts are used.
The Japanese candle-sticks charts techniques also have very many setups & setups that are used to trade the Trading Markets. These xauusd chart patterns have different xauusd analysis interpretation & the most common are:
How to Read XAUUSD MT4 Charts Beginners XAUUSD Guide
The above Meta Trader 4 Chart patterns is what makes the Japanese Gold MT4 Charts candles patterns popular among traders & it is why this type of technical Meta Trader 4 Chart analysis are most commonly used when it comes to interpreting the market.
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