How to Read XAUUSD MT4 Charts Beginners Gold Guide
There are three types of charts used in XAUUSD: Line, bar and candlesticks - how to read gold trading charts beginner traders guide.
How to Read MetaTrader 4 Gold Chart Patterns
Line Charts - xauusd line charts plots a continuous line connecting closing gold trading prices of a xauusd.
XAUUSD Line MetaTrader 4 XAUUSD Chart - How to Read Gold MetaTrader 4 Charts Beginners XAUUSD Tutorial
MetaTrader 4 Gold Chart Bar Charts - xauusd bar charts are displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. The Opening gold trading price is displayed as a horizontal dash on the left and closing gold trading price as a horizontal dash on the right.
XAUUSD Bar MetaTrader 4 XAUUSD Chart Charts- How to Read Gold MetaTrader 4 Charts Beginners XAUUSD Tutorial
The main disadvantage of a bar chart MetaTrader 4 Gold Chart is that it is not visually appealing, therefore most xauusd traders don't use them.
Candlesticks Chart MetaTrader 4 XAUUSD Chart - these xauusd candlesticks chart MetaTrader 4 Gold Chart use the same gold trading price data as bar charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.
How to Interpret Candles XAUUSD MT4 Charts
The rectangle part is called the body.
The high and low are described as shadows and drawn as poking lines.
XAUUSD Candlesticks Charts - How to Read Gold MetaTrader 4 Charts Beginners XAUUSD Tutorial
The color of the gold trading candle 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 MetaTrader 4 XAUUSD Platform, use colors to mark the direction of the gold trading price. MetaTrader 4 Gold Chart Candlesticks colors used are blue or green; when price moves up, color of MetaTrader 4 Gold Chart candlestick is blue; when price moves down, color of MetaTrader 4 Gold Chart candlestick is red.
How to Read XAUUSD MT4 Charts Beginners Gold Tutorial
When Gold MetaTrader 4 candlesticks charts are used it is very easy to see if the gold trading price moved up or down as opposed to when MetaTrader 4 bar charts are used.
The Japanese candlesticks charts trading techniques also have very many patterns and formations that are used to trade the XAUUSD Markets. These xauusd chart patterns have different technical analysis interpretation and the most common are:
How to Read Gold MetaTrader 4 Charts Beginner Traders XAUUSD Guide
The above MetaTrader 4 Gold Chart patterns is what makes the Japanese Gold MetaTrader 4 Charts candlesticks chart patterns popular among xauusd traders and it is why this type of technical MetaTrader 4 Gold Chart analysis are the most widely used when it comes to analyzing the XAUUSD market.
