How to Read the Three Types of XAUUSD Charts
To read xauusd price charts xauusd traders will need to first of all learn xauusd technical analysis.
This xauusd technical analysis study of xauusd price movement will analyze historical xauusd price moves using xauusd trends and xauusd chart patterns in an attempt to predict the next likely movement of the xauusd price direction.
A xauusd chart can be described as a graph representation of the xauusd price of a xauusd instrument over a specified xauusd chart timeframe 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 xauusd chart.
The xauusd chart can have different chart timeframes
MetaTrader 4 Gold Chart Time Frames
M1 for 1 Minute XAUUSD Charts
M5 for 5 Minutes XAUUSD Charts
M15 for 15 Min XAUUSD Charts
M30 for 30 Min XAUUSD Charts
H1 for 1H XAUUSD Charts
H4 for 4 Hours XAUUSD Charts
D for Daily XAUUSD Charts
W for Weekly XAUUSD Charts
M for Monthly XAUUSD Charts
MT5 XAUUSD Chart Timeframes
M1 for 1 Minute XAUUSD Charts
M2 for 2 Minutes XAUUSD Charts
M3 for 3 Min XAUUSD Charts
M4 for 4 Minute XAUUSD Charts
M5 for 5 Minutes XAUUSD Charts
M10 for 10 Min XAUUSD Charts
M12 for 12 Minutes XAUUSD Charts
M15 for 15 Min XAUUSD Charts
M20 for 20 Minutes XAUUSD Charts
M30 for 30 Min XAUUSD Charts
H1 for 1H XAUUSD Charts
H2 for 2 Hours XAUUSD Charts
H3 for 3 Hours XAUUSD Charts
H4 for 4 Hours XAUUSD Charts
H6 for 6 Hours XAUUSD Charts
H8 for 8 Hours XAUUSD Charts
H12 for 12 Hours XAUUSD Charts
D for Daily XAUUSD Charts
W for Weekly XAUUSD Charts
M for Monthly XAUUSD Charts
These xauusd chart timeframes are used to plot xauusd price data movement over the specified xauusd chart timeframe period and traders can then analyze xauusd price movements from these xauusd charts.
Using xauusd charts makes it easier for xauusd traders to analyze xauusd price movements because xauusd traders can analyze xauusd price trends as well as xauusd 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 technical analysis study is then used to analyze these xauusd price movements on the xauusd charts. XAUUSD technical analysis assumes that all the market information 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 XAUUSD Technical Analysis
The three xauusd chart types used for xauusd technical analysis are:
- Line Chart
- Bar Chart
- Candlestick Chart
XAUUSD Line Chart
XAUUSD line chart draws a continuous line from one closing xauusd price to the next closing xauusd price and this then depicts the movement of xauusd price of a particular 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 timeframe 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 xauusd price, the high xauusd price, the low xauusd price & closing xauusd price.
The bar chart will depict the whole xauusd price range for each xauusd trading period - using the above xauusd price data points - opening xauusd price, the high xauusd price, the low xauusd price & closing xauusd price.
The vertical bar indicates the xauusd instrument trading 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 xauusd price
A dash that is drawn to the right of the xauusd price bar indicates the closing xauusd price
XAUUSD Candle Chart
A candlestick chart is used to show the opening xauusd price, the high xauusd price, the low xauusd price & closing xauusd price.
A xauusd 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 xauusd price & closing xauusd price. The body of the xauusd candlestick will have different colors depending on the direction of the xauusd price.
Blue or Green Candlesticks for when price moves up
Red Candlesticks 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 XAUUSD Charts
