How to Read MT4 Software Guide Chart Analysis Beginners Guide
There are 3 types of charts used in XAUUSD: Line, bar & candlesticks - how to read charts novice traders guide.
How to Read MT4 Chart Setups
Line Charts - line charts draws a continuous line joining closing prices of a xauusd.
XAUUSD Line MetaTrader 4 Chart - How Do I Interpret Gold MT4 Platform Guide Chart Analysis Beginners Guide
MT4 Chart Bar Charts - xauusd bar charts are portrayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. The Opening price is highlighted as a horizontal hyphen on the left & closing price is displayed as a horizontal hyphen on the right.
Gold Bar MetaTrader 4 Chart - How Do I Interpret Gold MT4 Platform Guide Chart Analysis Beginners Guide
The main disadvantage of a bar chart MT4 Chart is that it isn't visually appealing, hence most traders don't use them.
Candles Chart MetaTrader 4 Chart - these candle-sticks chart MT4 Chart use the same price info as bar chart (open, high, low, & close). However, they're represented in a much more visually identifiable way which looks like a candle that has wicks on both its ends.
How to Interpret Candlesticks MetaTrader 4 Platform Tutorial Chart Analysis
The rectangle section is calledknown--asreferred--to--as the body.
The high and low are described as shadows & plotted as poking lines.
XAUUSD Candlesticks Charts
The colour of candle is either blue or red:
- (Blue or Green Colour Candles) - Prices moved up
- (Red Colour Candles) - Prices moved down
Most platforms like the MetaTrader 4 Software, use colours to mark direction of price. MT4 Chart Candles colors used are blue or green: when price moves upwards, color of MT4 Chart candle is blue: when price moves down, colour of MT4 Chart candle is red.
How to Read XAUUSD MT4 Software Course Chart Analysis Beginner Traders Guide
When MT4 candles charts are used it's very easy to see if the price headed upward or downward as opposed to when MT4 bar charts are used.
The Japanese candles charts techniques also have very many patterns and formations which are used to trade the Markets. These chart patterns have different analysis explanation and the most common are:
How to Read Gold MetaTrader 4 Course Chart Analysis Beginners Course
The above MT4 Chart patterns is what makes the Japanese Gold MetaTrader 4 Software Guide Chart Analysis candlesticks chart patterns popular among traders & it is why this type of technical MT4 Chart analysis are most often used when it comes to interpreting the market.
