How to Predict XAUUSD Charts
Gold Charts Technical Analysis Gold Meaning
There are 3 types of charts used in XAUUSD: Line Chart, Bar Chart and Candlesticks Chart - How to Predict XAUUSD Charts.
How to Predict XAUUSD Charts
Line Charts - xauusd line charts plot a continuous line connecting closing gold prices of a xauusd.
XAUUSD Line Charts - How to Predict XAUUSD Charts
Bar Chart - xauusd bar charts are displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW and CLOSE. Opening gold price is displayed as a horizontal dash on the left & closing gold price as a horizontal dash on the right.
XAUUSD Bar Charts - How to Predict Gold Charts Beginner Traders Guide
The main disadvantage of xauusd bar chart is that it is not visually appealing, therefore most traders don't use them.
XAUUSD Candlesticks Charts - these xauusd candlesticks charts use the same price data as xauusd bar charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle that has wicks on both ends.
How to Interpret Candlesticks Charts
The rectangle part of the gold trading candlestick is called the body.
The high and low of gold candlestick are called as shadows and are plotted as poking lines.
XAUUSD Candlesticks Charts
The color of the gold candlestick is either blue or red:
- (Blue or Green Color Candlesticks) - XAUUSD Prices moved up
- (Red Color Candlesticks) - XAUUSD Prices moved down
Most xauusd trading platforms like the MT4 XAUUSD Platform, use colors to mark the direction of the gold price. XAUUSD Candlesticks colors used are blue or green: when price moves up, color of xauusd candle is blue: when the price moves downward, color of xauusd candlestick is red.
How to Predict Gold Charts
When Gold candles charts are used it is very easy to see if the gold price moved up or down as opposed to when bar charts are used.
Japanese candles charts trading techniques also have very many candles formations which are used to trade the XAUUSD Markets. These xauusd chart patterns have different technical analysis explanation & the most common are:
Gold Charts Online XAUUSD Course Beginners Tutorial Beginners PDF
The above xauusd candles patterns is what makes the Japanese candlesticks chart patterns popular among xauusd traders & it is why this type of xauusd chart analysis technical analysis are the most widely used when it comes to analyzing the XAUUSD market.
