How to Read MetaTrader 4 Gold Chart Analysis
There are three types of charts used in XAUUSD: Line, bar and candlesticks - how to read xauusd charts beginners PDF.
How to Read MetaTrader 4 Gold Chart Analysis
Line Charts - xauusd line charts plots a continuous line connecting closing gold prices of a xauusd.
XAUUSD Line MetaTrader 4 XAUUSD Chart - How to Read MetaTrader 4 Gold Charts Beginners PDF
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 price is displayed as a horizontal dash on the left and closing gold price as a horizontal dash on the right.
XAUUSD Bar MetaTrader 4 XAUUSD Chart Charts- How to Read MetaTrader 4 Gold Charts Beginners PDF
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 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 Candlesticks MetaTrader 4 Gold 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 MetaTrader 4 Gold Charts Beginners PDF
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 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 MetaTrader 4 Gold Charts Beginners PDF
When Gold MetaTrader 4 candlesticks charts are used it is very easy to see if the gold 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 Gold Chart Analysis have different technical analysis interpretation and the most common are:
MT4 Gold Charts for Beginners PDF
The above MetaTrader 4 Gold Chart Analysis is what makes the Japanese xauusd MetaTrader 4 charts candlesticks Gold Chart Analysis 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.
