How to Read XAUUSD MT4 Platform Tutorial Chart Analysis Gold Beginners Guide
There are 3 types of charts used in XAUUSD: Line, bar & candlesticks - how to read gold charts beginners guide.
How to Read MT4 Gold Chart Patterns
Line Charts - xauusd line charts draws a continuous line connecting closing gold prices of a xauusd.
XAUUSD Line MetaTrader 4 XAUUSD Chart - How to Read Gold MetaTrader 4 Platform Tutorial Chart Analysis Beginners Tutorial
MT4 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 price is displayed as a horizontal dash on the left and closing gold price as a horizontal dash on right.
XAUUSD Bar MetaTrader 4 XAUUSD Chart Charts- How to Read Gold MetaTrader 4 Platform Tutorial Chart Analysis Beginners Tutorial
The main disadvantage of a bar chart MT4 Gold Chart is that it isn't visually appealing, therefore most traders don't use them.
Candlesticks Chart MT4 XAUUSD Chart - these xauusd candlesticks chart MT4 Gold Chart use the same price data as bar charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way which looks like a candle with wicks on both its ends.
How to Analyze Candlesticks Gold MetaTrader 4 Platform Tutorial Chart Analysis
The rectangle part is called the body.
The high and low are described as shadows and drawn 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 Candles) - XAUUSD Prices moved down
Most xauusd trading platforms like the MetaTrader 4 XAUUSD Platform, use colors to mark the direction of the gold price. MT4 Gold Chart Candlesticks colors used are blue or green: when the price moves upwards, color of MetaTrader 4 Gold Chart candle is blue: when price moves down, color of MetaTrader 4 Gold Chart candle is red.
How to Read Gold MetaTrader 4 Platform Guide Chart Analysis XAUUSD Beginner Traders Tutorial
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 candles charts trading techniques also have very many patterns and formations which are used to trade the XAUUSD Markets. These xauusd chart patterns have different technical analysis explanation and the most common are:
How to Read Gold MetaTrader 4 Platform Guide Chart Analysis XAUUSD Beginner Traders Tutorial
The above MetaTrader 4 Gold Chart patterns is what makes the Japanese Gold MetaTrader 4 Platform Tutorial Chart Analysis 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 interpreting the XAUUSD market.
