How to Predict Charts
Gold Charts Technical Analysis Gold Meaning
There are 3 types of charts used in XAUUSD: Line Chart, Bar Chart and Candles Chart - How to Predict Charts.
How to Predict Charts
Line Charts - line charts plot a continuous line connecting closing prices of a xauusd.
XAUUSD Line Charts - How to Predict Charts
Bar Chart - xauusd bar charts are portrayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW and CLOSE. Opening price is highlighted as a horizontal dash on the left & the closing price as a horizontal dash on the right.
XAUUSD Bar Charts - How to Predict Charts Beginner Traders Tutorial
Main disadvantage of bar chart is that it's not visually appealing, therefore most traders do not use them.
Candles Charts - these candles charts use the same price data as bar charts (open, high, low, & close). However, they are represented in a much more visually identifiable way which resembles a candle that has wicks on both ends.
How to Interpret Candlesticks Charts
The rectangle part section of candle-stick is known as the body.
The high and low of candlestick are called as shadows and are plotted as poking lines.
Candles Charts
The colour of candlestick is either blue or red:
- (Blue or Green Colour Candles) - Prices headed upward
- (Red Color Candles) - Prices headed down
Most platforms like the MT4 Software, use colors to mark direction of price. Candles colors used are blue or green: when price moves up, color of candle is blue: when the price moves downward, color of candle is red.
How to Predict Charts
When candles charts are used it is very easy to see if the price headed up or down as opposed to when bar charts are used.
Japanese candles charts techniques also have very many candles formations which are used to trade the Markets. These patterns have different technical analysis explanation & the most common are:
Gold Charts Online Course Beginners Tutorial Beginners PDF
The above candles patterns is what makes the Japanese candle-sticks patterns popular among traders & it is why this type of chart analysis analysis are most often used when it comes to analyzing the market.
