How to Read the 3 Types of Charts

To read price charts traders will need to first of all learn xauusd technical analysis.

This trading analysis study of price movement will analyze historical xauusd price moves using trends and chart patterns in an attempt to predict the next likely movement of the xauusd price direction.

A chart can be described as a graph representation of the xauusd price of a instrument over a specified chart time-frame period.

The xauusd charts use the y-axis or vertical axis to represent the xauusd price scale and the x-axis or horizontal axis to represent time scale. XAUUSD prices are then drawn from left to right with the most recent xauusd price being plotted at the furthest point to the right of this chart.

The xauusd chart can have different chart timeframes

MetaTrader 4 Chart Timeframes

M1 for 1 Minute Charts

M5 for 5 Minute Charts

M15 for 15 Minute Charts

M30 for 30 Minute Charts

H1 for 1H Charts

H4 for 4 Hours Charts

D for Daily Charts

W for Weekly Charts

M for Monthly Charts

MT5 Chart Time Frames

M1 for 1 Minute Charts

M2 for 2 Minute Charts

M3 for 3 Minute Charts

MetaTrader for 4 Minute Charts

M5 for 5 Minute Charts

M10 for 10 Minute Charts

M12 for 12 Minute Charts

M15 for 15 Minute Charts

M20 for 20 Minute Charts

M30 for 30 Minute Charts

H1 for 1 Hour Charts

H2 for two Hours Charts

H3 for 3 Hours Charts

H4 for 4 Hours Charts

H6 for 6 Hours Charts

H8 for 8 Hours Charts

H12 for 12 Hours Charts

D for Daily Charts

W for Weekly Charts

M for Monthly Charts

These xauusd chart timeframes are used to plot xauusd price data movement over the specified chart timeframe period and traders can then analyze xauusd price movements from these xauusd charts.

Using charts makes it easier for xauusd traders to analyze xauusd price movements because xauusd traders can analyze xauusd price trends as well as price patterns.

XAUUSD price charts are used to analyze supply and demand for the xauusd price movement. And changes in the supply and demand will be depicted in the xauusd price movement.

XAUUSD analysis study is then used to analyze these xauusd price movements on the xauusd charts. XAUUSD analysis assumes that all the market info has been factored in the xauusd price action movement based on supply and demand for a particular xauusd instrument and this supply and demand is depicted in the xauusd price action movement that occurs on the xauusd charts price movement.

The Three XAUUSD Charts Types That are Used in Technical Analysis

The three xauusd chart types used for xauusd technical analysis are:

Line Chart
Bar Chart
Candle Chart

XAUUSD Line Chart

XAUUSD line chart draws a continuous line from one closing price to the next closing price and this then depicts the movement of price of a specific xauusd instrument over a period of time on the xauusd chart.

XAUUSD line charts do not provide xauusd traders with a lot of details and information about xauusd price movement and the only information plotted by this line chart is of where the price closed for a specific xauusd chart time-frame period.

The xauusd line chart can be used to interpret xauusd trends based on the direction of the xauusd line chart movement.

XAUUSD Bar Chart

A bar chart is used to show the opening price, the high xauusd price, the low gold price & closing price.

The bar chart will depict the whole xauusd price range for each xauusd period - using the above xauusd price data points - opening price, the high gold price, the low xauusd price and closing price.

The vertical bar indicates the xauusd instrument range as a whole for the period

Tops of the bar indicates the high xauusd price

The bottom of the bar indicates the low xauusd price

A dash that is drawn to the left of the xauusd price bar indicates the opening price

A dash that is drawn to the right of the xauusd price bar indicates the closing price

XAUUSD Candle Chart

A candlestick chart is used to show the opening price, the high gold price, the low gold price & closing price.

A candle chart is represented in a easier to read and interpret format compared to the xauusd bar chart.

Candle xauusd charts represent the same data as that of a bar chart but in a much easier to analyze format.

XAUUSD Candles have two parts: the body of the candle and the shadow of the candlestick

XAUUSD candlesticks have a body which is the difference between the opening price & closing price. The body of the xauusd candlestick will have different colors depending on the direction of the xauusd price.

Blue or Green Candles for when price moves up

Red Candles for when price moves down

The xauusd candlesticks also have protruding lines above and below the body of the xauusd candlestick - these protruding lines are known as shadows. The upper shadow represents the high xauusd price & the lower shadow represents the low xauusd price.

How to Read the Three Types of Charts

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