Commodity Trading interpret Commodity Trading Charts
How to Trade Live Commodity Trading Charts
There are Three types of charts used in Commodity Trading: Line Charts, Bar Charts and Candles Charts.
Line Charts - draws a continuous line connecting closing commodity prices of commodity.
Commodity Trading Line Charts - What are the 3 Types of Commodity Trading Charts?
Bar Charts- displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. The Opening commodity price is displayed as a horizontal dash on the left & closing commodity price as a horizontal dash on right.
Commodity Bar Charts - What are the 3 Types of Commodity Trading Charts?
Candle Stick Charts - these use the same trading price data as bar charts (open, high, low, & close). However, they are drwan in a more visually identifiable way that looks like a candle that has wicks on both its ends.
How to Analyze
The rectangle section is known as body.
The high & low are described as shadows & drawn as poking lines.
Commodity Trading Candlesticks Charts - What are the 3 Types of Commodity Trading Charts?
The color of the candle is either blue or red
- (Blue or Green Color) - Commodity Trading Prices moved up
- (Red Color) - Commodity Trading Prices moved down
Most commodity trading platforms like the MT4, use colors to mark the direction. Colors used are blue or green: when price moves up, red: when the price moves down.
