What's Candles Charts?
Types of Charts
There are three types of xauusd charts: Line chart, bar chart and candlestick chart.
Candlesticks Charts - the candles charts use the same price data as xauusd bar charts (open, high, low, & close). However, they represent the charts in a more easily identifiable way which resembles a candlestick that has wicks on both ends.
How to Read Candles Charts
The rectangle part of candlestick is known as the body.
The high and low are described as shadows & are drawn as poking lines.
Various Types of Charts - Types of Charts and How to Read Them
The color of trading candle is either blue or red
- (Blue or Green Colour candle) - price headed up
- (Red Colour candle) - price moved down
Most xauusd platforms like the MT4 software, use colors to mark the direction of price. Colors used are blue or green: - green xauusd candle when price moves up, red xauusd candle when price moves down.
What's Line Charts?
A line chart in Trade draws the closing price of a xauusd and connects this closing price to the closing price of next time period therefore forming a continuous xauusd line chart which draws the movement of price movement.
Line Chart - draws a continuous line connecting closing prices of a on the price chart.
Various Types of Charts - Types of Charts and How to Read Them
What's Bar Charts?
Bar Charts are charts representation of price portrayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW and CLOSE. Opening price is highlighted as a horizontal hyphen on the left and closing price as a horizontal hyphen on the right.
Various Types of Charts - What is a Bar Charts
