How to Read Gold MetaTrader 4 Charts Described Beginner Traders Tutorial
There are 3 types of charts used in XAUUSD: Line, bar and candlesticks - how to read gold charts beginners tutorial.
How to Read MT4 XAUUSD Trading Patterns
Line Charts - xauusd line charts draws a continuous line connecting closing gold trading prices of a xauusd.
XAUUSD Line MetaTrader 4 XAUUSD Chart - How to Read Gold MetaTrader 4 Charts Described Beginners Guide
MetaTrader 4 Gold Chart Bar Charts - xauusd bar charts are displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW and CLOSE. Opening gold trading price is displayed as a horizontal dash on the left & closing gold price as a horizontal dash on the right.
XAUUSD Bar MetaTrader 4 XAUUSD Chart Charts- How to Read Gold MetaTrader 4 Charts Described Beginners Guide
The main disadvantage of a bar chart MetaTrader 4 Gold Chart is that it is not visually appealing, therefore most traders don't use them.
Candlesticks Chart MetaTrader 4 XAUUSD Chart - these xauusd candlesticks chart MT4 Gold Chart use the same gold trading price data as bar charts (open, high, low, & close). However, they in a much more visually identifiable way which resembles a candle with wicks on both its ends.
How to Analyze Candles Gold MetaTrader 4 Charts Explained
The rectangle part is called the body.
The high & low are described as shadows & drawn as poking lines.
XAUUSD Candles Charts - How to Read Gold MetaTrader 4 Charts Described Beginners Guide
The color of the gold candle-stick is either blue or red:
- (Blue or Green Color Candlesticks) - XAUUSD Prices moved up
- (Red Color Candles) - XAUUSD Prices moved down
Most xauusd trading platforms like the MT4 XAUUSD Platform, use colors to mark the direction of the gold trading price. MT4 Gold Chart Candlesticks colors used are blue or green: when price moves up, color of MetaTrader 4 Gold Chart candle is blue: when the price moves downward, color of MetaTrader 4 Gold Chart candlestick is red.
How to Read XAUUSD MT4 Charts Described Beginners Guide
When Gold MetaTrader 4 candles charts are used it is very easy to see if the gold price moved up or down as opposed to when MT4 bar charts are used.
The Japanese candlestick charts trading techniques also have very many patterns & formations which are used to trade the XAUUSD Markets. These xauusd chart patterns have different technical analysis explanation & the most common are:
How to Read XAUUSD MT4 Charts Described Beginners Guide
The above MetaTrader 4 Gold Chart patterns is what makes the Japanese Gold MetaTrader 4 Charts Described candlesticks chart patterns popular among xauusd traders & it is why this type of technical MT4 Gold Chart analysis are the most widely used when it comes to analyzing the XAUUSD market.
