What's Candlesticks Charts?

Types of Commodities Trading Charts

There are Three types of commodity charts: Line commodity chart, bar chart & candlestick chart.

Commodity Candles Trading Charts - the commodity candlesticks trading charts use the same price data as commodity bar charts (open, high, low, and close). However, they represent the charts in a much more easily identifiable way which resembles a candle with wicks on both ends.

How to Read Candlesticks Commodity Trading Charts

Rectangle part of the candle is known as body.

The high & low are described as shadows and are plotted as poking lines.

Types of Commodities Charts & How to Read Them - What is Candlesticks Charts?

The color of the commodity candle is either blue or red

• (Blue or Green Color candlestick) - Commodity Trading price moved up
• (Red Color candle) - Commodity Trading price moved down

Most commodity trading platforms like the MT4 commodities trading platform, use colors to mark the direction of the commodity price. Colors used are blue or green: - green commodity candle-stick when price moves up, red commodity candle stick when price moves down.

What's Line Charts?

A line chart in Commodity Trading draws the closing commodity price of a commodity pair & connects this closing commodity price to the closing commodity price of the next trading period hence forming a continuous commodity line chart that draws the movement of commodity price movement.

Line Chart - plots a continuous line connecting closing commodity prices of a on the commodity price chart.

Types of Commodities Charts & How to Read Them - What is a Line Charts?

What's Bar Charts?

Bar Charts are charts representation of the commodity price displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. Opening commodity price is displayed as a horizontal dash on the left & closing commodity price as a horizontal dash on the right.

Types of Commodities Charts & How to Read Them - What is a Bar Charts