What Chart Should I Trade With?
The most popular xauusd charts in the Market are : Line charts, Bar charts and Candlestick charts.
As a beginner trader wanting to know which xauusd chart you should trade with the advantages of the Candlesticks charts are explained below - which makes the candlesticks charts the best choice of xauusd with.
The xauusd candlesticks are easy to use as compared to line charts or bar charts.
How to Read Candle-sticks Charts
Candle-sticks Charts - these xauusd candles charts use the same trading price data as bar charts (open, high, low, and close). However, these xauusd candlestick charts are represented in a much more visually identifiable way which resembles a candle with wicks on both sides.
How to Analyze Candle-sticks Charts
The rectangle part section of candle is called the body.
The high and low of the candle are described as shadows and drawn as poking lines.
Candlesticks Charts - How Do I Interpret Candlestick Charts for Beginners Guide
The colour of candle is either blue or red:
- (Blue or Green Colour Candles) - Prices headed up
- (Red Colour Candles) - Prices headed down
Most xauusd softwares like the MetaTrader 4 Platform Software, use colors to mark direction of price represented using the candlestick. Candlesticks colors used are blue or green colors; when price moves up, colour of xauusd candle is blue: when price moves downward, colour of xauusd candle is red.
How to Read Candles Charts for Beginners
When candles charts are used it's very easy to see if the price headed upward or downward as opposed to when bar charts are used.
