Read Different Types of XAUUSD Charts
How to Analyze Different Types of Gold Charts
There are three types of xauusd charts: Line gold chart, bar chart & candlestick chart.
Candle Sticks Charts - the xauusd candlesticks charts use the same price data as xauusd bar charts (open, high, low, and close). However, xauusd candlesticks charts represent the charts in a much more easily identifiable way which resembles a candle with wicks on both ends.
How to Read Candles Charts
The rectangle part of the candlestick is called the body.
The high and low are described as shadows & are drawn as poking lines.
How Do You Analyze Different Types of Gold Charts - Read Different Types of XAUUSD Charts?
The color of the gold candle is either blue or red
- (Blue or Green Color candlestick) - XAUUSD price moved up
- (Red Color candle) - XAUUSD price moved down
Most xauusd trading platforms like the MT4 software, use colors to mark the direction of the gold price. Colors used are blue or green: - green xauusd candle-stick when price moves upward, red xauusd candle stick when price moves downwards.
What's Line Charts?
A line chart in XAUUSD Trading draws the closing gold price of a xauusd trading instrument & connects this closing gold price to the closing gold price of the next trading period hence forming a continuous xauusd line chart which plots the movement of gold price movement.
Line Chart - plots a continuous line connecting closing gold prices of a on the gold price chart.
How Do You Analyze Different Types of Gold Charts - Read Different Types of XAUUSD Charts?
What's Bar Charts?
Bar Charts are charts representation of the gold price displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. Opening gold price is displayed as a horizontal dash on the left and closing gold price as a horizontal dash on right.
Analyze Different Types of Gold Charts - How to Trade Different Types of XAUUSD Charts?
Read Different Types of XAUUSD Charts
