How Do I Interpret a Candlestick Chart
Candle Charts - these xauusd candlestick charts use the price data (open, high, low, and close price) to draw gold price movement in an identifiable way which resembles a candle with wicks on both ends.
How Do You Analyze Candle Charts?
The rectangle part section is calledknown--asreferred--to--as the body.
The high & low of the price are described as shadows which are drawn as poking lines.
How Do I Interpret Candle Charts
The color of trading candlestick is either blue or red:
- Blue Color Candles or Green Color Candlesticks - Prices moved up
- Red Color Candlesticks - Prices headed down
Most xauusd platforms like the MT4 Software, use colors to mark direction of price. XAUUSD candles colors used are blue or green - when price moves up, - color of the candlestick is red - when the price moves down.
How Do I Analyze Candlestick Charts?
When xauusd candles charts are used it is very easy to determine if price moved up or price moved down as opposed to when xauusd bar charts are used.
The Japanese candle charts trading analysis also have very many candlesticks patterns that are used to analyze and trade XAUUSD. These xauusd patterns have different technical analysis & the most common are:
Reversal Patterns Candle Patterns Candle Setups
Inverted Hammer Candlestick Pattern & Shooting Star Candle Setups
Piercing Line Candle Pattern and Dark Cloud Cover Candle Setups
Morning Star Candles and Evening Star Candles Candle Setups
Interpret Candle Charts?
