How Do I Interpret the 3 Different Types of XAUUSD Charts?
How to Analyze the 3 Different Types of XAUUSD Charts
Interpreting Gold Charts
There are 3 types of charts used in XAUUSD: Line Charts, Bar Charts & Candles Charts.
Line Charts - draws continuous line connecting closing gold prices of xauusd.
XAUUSD Trading Line Gold Charts - What are the 3 Different Types of XAUUSD Charts?
Bar Charts- displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. The Opening gold price is displayed as a horizontal dash on the left and closing gold price as a horizontal dash on right.
XAUUSD Trading Bar Charts - What are the 3 Different Types of XAUUSD Charts?
Candlestick Charts - these use the same price data as bar charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way which looks like a candle with wicks on both its ends.
How Do You Interpret?
The rectangle part is called the body.
The high and low are described as shadows & plotted as poking lines.
Candlesticks Charts - What are the 3 Different Types of XAUUSD Charts?
The color of the candlestick is either blue or red
- (Blue or Green Color) - XAUUSD Prices moved up
- (Red Color) - XAUUSD Prices moved down
Most gold trading platforms like the MT4, use colors to mark the direction. Colors used are blue or green: when the price moves upward, red: when price moves downward.
Read the 3 Different Types of XAUUSD Charts
