How to Read Gold Charts Beginner Traders PDF
Gold Charts Analysis Strategies Tutorial
There are 3 types of charts used in XAUUSD: Line Chart, Bar Chart and Candlesticks Chart - how to read xauusd charts beginners Tutorial.
How to Read Gold Chart Analysis
Line Charts - xauusd line charts plot a continuous line connecting closing gold trading prices of a xauusd.
XAUUSD Line Charts - How to Read Gold Charts Beginner Traders Guide
Bar Chart - xauusd bar charts are displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW and CLOSE. Opening gold trading price is displayed as a horizontal dash on the left & closing gold price as a horizontal dash on the right.
XAUUSD Bar Charts- How to Read Gold Charts Beginner Traders Guide
The main disadvantage of xauusd bar chart is that it is not visually appealing, therefore most traders don't use them.
Candle Sticks Charts - these xauusd candlesticks charts use the same gold trading price data as xauusd bar charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way which resembles a candlestick with wicks on both its ends.
How to Interpret Candles XAUUSD Charts
The rectangle part of the gold candle is called the body.
The high & low of the xauusd candlestick are described as shadows and drawn as poking lines.
XAUUSD Candlesticks Charts
The color of the gold candle-stick is either blue or red:
- (Blue or Green Color Candlesticks) - XAUUSD Prices moved up
- (Red Color Candles) - XAUUSD Prices moved down
Most xauusd trading platforms like the MT4 XAUUSD Platform, use colors to mark the direction of the gold trading price. XAUUSD Candlesticks colors used are blue or green: when price moves up, color of xauusd candle is blue: when the price moves downward, color of xauusd candlestick is red.
How to Read Gold Charts Beginner Traders PDF
When Gold candles charts are used it is very easy to see if the gold trading price moved up or down as opposed to when bar charts are used.
The Japanese candles charts trading techniques also have very many candles formations which are used to trade the XAUUSD Markets. These xauusd chart patterns have different technical analysis explanation & the most common are:
How to Read Gold Chart Patterns Beginners PDF
The above xauusd candles patterns is what makes the Japanese candlesticks chart patterns popular among xauusd traders & it is why this type of technical xauusd chart analysis are the most widely used when it comes to analyzing the XAUUSD market. The analysis for these xauusd charts pattern formations in xauusd trading is the same as that one used in stocks trading.
