How Do I Trade XAUUSD Meta Trader 4 Charts Beginners Guide
There are 3 types of charts used in XAUUSD: Line, bar and candlesticks - how to Trade charts beginner traders Guide.
How Do I Trade MT4 Gold Setup Patterns
Line Charts - line charts draws a continuous line joining closing prices of a xauusd.
XAUUSD Line Meta Trader 4 Chart - How to Trade Gold Meta Trader 4 Charts Beginners XAUUSD Guide
MT4 Chart Bar Charts - xauusd bar charts are displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. Opening price is highlighted as a horizontal dash to the left and the closing price is illustrated as a horizontal dash to the right.
XAUUSD Bar MT4 Chart Charts- How to Trade Gold Meta Trader 4 Charts Beginners XAUUSD Guide
The main disadvantage of a bar chart Meta Trader 4 Chart is that it isn't visually appealing, therefore most traders do not use them.
Candle-sticks Chart Meta Trader 4 Chart - these candlesticks chart Meta Trader 4 Chart use the same price info as bar chart (open, high, low, and close). However, they are displayed in a much more visually identifiable way that looks like a candlestick with wicks on both its ends.
How to Analyze Candles MetaTrader 4 Charts
The rectangle section is calledknown--asreferred--to--as the body.
The high and low are described as shadows and drawn as poking lines.
XAUUSD Candlesticks Charts - How Do I Trade Gold Meta Trader 4 Charts Beginners XAUUSD Guide
The color of candle is either blue or red:
- (Blue or Green Color Candle-sticks) - Prices moved upward
- (Red Color Candlesticks) - Prices moved downward
Most xauusd platforms like the MetaTrader 4 Platform Software, use colours to mark direction of price. MetaTrader 4 Chart Candles colors used are blue or green: when price moves upwards, color of Meta Trader 4 Chart candle stick is blue: when price moves down, color of Meta Trader 4 Chart candlestick is red.
How Do I Trade Gold Meta Trader 4 Charts Beginners XAUUSD Guide
When MetaTrader 4 candlesticks charts are used it is very easy to see if the price moved up or down as opposed to when MetaTrader 4 bar charts are used.
The Japanese candlesticks charts techniques also have very many patterns and formations which are used to trade the Markets. These chart setups have different technical analysis explanation and the most common are:
How Do I Trade XAUUSD Meta Trader 4 Charts Beginners Guide
The above Meta Trader 4 Chart setups is what makes the Japanese Gold MetaTrader 4 Charts candlesticks chart patterns popular among traders & it is why this type of technical Meta Trader 4 Chart analysis are the most widely used when it comes to trading the market.
