How to Read Gold MetaTrader 4 Charts Explained Beginners Tutorial

There are three types of charts used in XAUUSD: Line, bar and candlesticks - how to read xauusd charts beginners Tutorial.

How to Read MetaTrader 4 Gold Chart Patterns

Line Charts - xauusd line xauusd charts plots a continuous line connecting closing xauusd prices of a xauusd.

XAUUSD Line MetaTrader 4 XAUUSD Chart- How to Read Gold MetaTrader 4 Charts Explained Beginners Tutorial

MetaTrader 4 Gold Chart Bar Charts - xauusd bar xauusd charts are displayed as sequence of OHCL bars. OHCL 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 the right.

XAUUSD Bar MetaTrader 4 XAUUSD Chart Charts- How to Read Gold MetaTrader 4 Charts Explained Beginners Tutorial

The main disadvantage of a bar xauusd chart MetaTrader 4 Gold Chart is that it is not visually appealing, therefore most xauusd traders don't use them.

Candlesticks Gold Chart MetaTrader 4 XAUUSD Chart - these xauusd candlesticks chart MetaTrader 4 Gold Chart use the same gold price data as bar xauusd charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.

How to Interpret Candlesticks Gold MetaTrader 4 Charts Explained

The rectangle part is called the body.

The high and low are described as shadows and drawn as poking lines.

XAUUSD Candlesticks Charts - How to Read Gold MetaTrader 4 Charts Explained Beginners Tutorial

The color of the xauusd candlestick is either blue or red:

• (Blue or Green Color Candlesticks) - XAUUSD Prices moved up
• (Red Color Candlesticks) - XAUUSD Prices moved down

Most xauusd trading platforms like the MetaTrader 4 XAUUSD Platform, use colors to mark the direction of the gold price. MetaTrader 4 Gold Chart Candlesticks colors used are blue or green; when gold price moves up, color of MetaTrader 4 Gold Chart candlestick is blue; when gold price moves down, color of MetaTrader 4 Gold Chart candlestick is red.

How to Read Gold MetaTrader 4 Charts Explained Beginners Tutorial

When Gold MetaTrader 4 candlesticks xauusd charts are used it is very easy to see if the gold price moved up or down as opposed to when MetaTrader 4 bar xauusd charts are used.

The Japanese candlesticks xauusd charts trading techniques also have very many patterns and formations that are used to trade the XAUUSD Markets. These xauusd chart patterns have different xauusd technical analysis interpretation and the most common are:

How to Read Gold MetaTrader 4 Charts Explained Beginners Tutorial

The above MetaTrader 4 Gold Chart patterns is what makes the Japanese Gold MetaTrader 4 Charts Explained candlesticks xauusd chart patterns popular among xauusd traders and it is why this type of technical MetaTrader 4 Gold Chart analysis are the most widely used when it comes to analyzing the XAUUSD market.