All Candles Patterns PDF
Advanced Candles Patterns PDF
Brief History
Candlesticks were created in 18th century by the legendary rice trader known as Homma Munehisa to give an overview of the opening, high, low and closing market gold price over a given period of time.
They were used by the legendary rice trader to predict future market gold prices. After dominating in the rice market, Munehisa after that eventually moved to Tokyo Exchange where he gained huge fortunes using this analysis method. He is said to have made over one hundred consecutive winning trades.
Types of XAUUSD charts
There are 3 types of charts used in XAUUSD: Line, bar & candles.
Line - plots a continuous line connecting closing gold prices of a xauusd.
Bars- displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW and CLOSE. The Opening gold price is displayed as a horizontal dash on the left & closing gold price as a horizontal dash on the right.
The main disadvantage of a bars is that it isn't visually appealing, therefore most traders don't use them.
Candlesticks Patterns - Best XAUUSD Candlesticks Book - these use the same price data as bar charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way which resembles a candlestick with wicks on both its ends.
How to Analyze Best XAUUSD Candlesticks Book
The rectangle part is called the body.
The high & low are described as shadows & drawn as poking lines.
The color is either blue or red
- (Blue or Green Color) - XAUUSD Prices moved up
- (Red Color) - XAUUSD Prices moved down
Most gold trading platforms like the MetaTrader 4, use colors to mark the direction. Colors used are blue or green: when price moves upward, red: when the price moves downward.
Candles Vs. Bar Chart
When candlesticks are used it is very easy to see if the gold price moved up or down as opposed to when bars are used.
The Best XAUUSD Candlesticks Book also have very many formations that are used to trade the XAUUSD market. Best XAUUSD Candlesticks Book - candlesticks patterns have different technical analysis explanation and the most common Best XAUUSD Candlesticks Book are:
The above Best XAUUSD Candlesticks Book and Patterns is what makes the Japanese candlesticks patterns popular among xauusd technical traders & it is why this type of xauusd analysis are the most widely used when it comes to analyzing the xauusd trading market. The analysis for these Japanese candlesticks pattern formations in xauusd trading is the same as that one used in stocks trading - Best XAUUSD Candlesticks Book.
Drawing japanese Candles XAUUSD Charts on MT4 Gold Trading Platform
To draw Candlestick Charts on the MetaTrader 4, choose the MetaTrader 4 charts drawing tools within the "MT4 Toolbar" - shown below.
To view this tool-bar in MT4 go to 'View' Next to file at top left corner of MetaTrader 4 Platform, Click 'View', Then Click 'Tool bars', Then check the 'Charts' Button. The above Charts tool-bar will appear.
Once the above tool-bar, appears you can then select the type you want to convert to, If you want to view using the bar format, click the bar chart tool button key as displayed above, for line format click the line chart tool button, for Japanese candles format click the "candlesticks chart tool button key".
All Candles Patterns PDF. Advanced Candles Patterns Book PDF - Advanced Candles Patterns PDF. Bullish Gold Candlesticks Patterns & Bearish Gold Candlesticks Patterns & Candlestick Continuation Patterns PDF - How to Read Candlestick Chart for Day Trading
