Candlesticks Gold Chart Patterns
XAUUSD Candlesticks Consolidation Pattern and XAUUSD Candlesticks Continuation Pattern
Depending on the size and shape of a XAUUSD candlestick it is possible to determine the strength of buyers or sellers. Likewise it is also possible to determine the underlying weakness of the buyers and sellers.
Long Body Candlesticks
Candlesticks with long bodies show that there were a lot of buyers/sellers, depending on the color of the candlestick.
When xauusd price makes a huge move from the opening xauusd price to the closing xauusd price it shows the strength of buyers/sellers.
Long Blue Candlesticks - Strength of Buyers
Long Red Candlesticks - Strength of Sellers
Long Body Candlesticks
Short Body Candlesticks
Candlesticks with short bodies show that there were not so many buyers/sellers and the xauusd price did not move much from the opening xauusd price to the closing gold price.
These show that the buyers/sellers were not very strong.
Short Body Candlesticks
Marubozu Candlestick
Marubozu are long candlesticks that have no upper or lower shadows, Like the ones shown below.
Marubozu Candlesticks
Marubozu are continuing candlestick patterns that show xauusd price is going to continue in the same direction as that of the marubozu candlestick. The marubozu can be white/blue or Black/red depending on the direction of the trend.
Marubozu Candlesticks
White marubozu - the open is also the low and the close is also the high.
Marubozu means there were no retracements during that xauusd price period and therefore shows that buyers were in total control of the gold price.
White Marubozu is a continuation pattern meaning that the next candlestick is likely to continue in the same upward gold trend direction.
Black marubozu - the open is also the high and the close is also low.
Marubozu means there were no retracements and therefore shows that sellers were in total control of the gold price.
Black Marubozu is a continuation pattern meaning that the next candlestick is likely to continue in the same downward gold trend direction.
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