What Gold Chart Should I Trade With?

The most popular gold charts in the Gold Market are : Line charts, Bar charts & Candlestick charts.

As a beginner trader wanting to know which gold chart you should trade with the advantages of the Candlesticks charts are explained below - which makes the candlesticks charts the best choice of gold trading with.

The gold candlesticks are easy to use as compared to line charts or bar charts.

How to Read XAUUSD Candles Charts

Gold Candlesticks Charts - these gold candlesticks charts use the same xauusd trading price data as bar charts (open, high, low, and close). However, these gold candlestick charts are represented in a much more visually identifiable way which resembles a candle with wicks on both sides.

How to Interpret XAUUSD Candles Charts

Rectangle part of the candle is known as body.

The high & low of the candle are described as shadows & plotted as poking lines.

Gold Candles Charts - How to Read Gold Candlestick Charts for Beginners Guide

The color of the xauusd candlestick is either blue or red:

• (Blue or Green Color Gold Candlesticks) - Gold Prices moved up
• (Red Color Gold Candlesticks) - Gold Prices moved down

Most gold trading platforms like the MT4 Gold Trading Platform, use colors to mark the direction of the xauusd trading price represented using the xauusd candlestick. Gold Candlesticks colors used are blue or green colors; when price moves up, color of gold candle is blue: when price moves downward, color of gold candlestick is red.

How to Read Gold Candlesticks Charts for Beginners

When Gold Trading candles charts are used it's very easy to see if the xauusd trading price moved up or down as opposed to when bar charts are used.