What is Candlesticks Oil Trading Charts?
Types of Oil Trading Charts
There are three types of oil charts: Line oil chart, bar oil chart and candlestick oil chart.
Oil Candlesticks Trading Charts - the oil candles trading charts use the same crude oil price data as oil bar oil charts (open, high, low, and close). However, they represent the charts in a much more easily identifiable way which resembles a candle with wicks on both ends.
How to Read Candles Oil Trading Charts
The rectangle part of the candle is called the body.
The high & low are described as shadows and are drawn as poking lines.
Types of Crude Oil Charts and How to Read Them - What is Candlesticks Oil Trading Charts?
The color of the oil trading candlestick is either blue or red
- (Blue or Green Color candle) - Oil Trading price moved up
- (Red Color candlestick) - Oil Trading price moved down
Most oil trading softwares like the MT4 crude oil trading software, use colors to mark the direction of the oil price. Colors used are blue or green: - green oil candle when crude oil price moves up, red oil candle when crude oil price moves down.
What is a Line Crude Oil Trading Charts?
A line oil chart in Oil Trading draws the closing crude oil price of a oil pair and connects this closing crude oil price to the closing crude oil price of the next trading period hence forming a continuous oil line oil chart that draws the movement of oil price movement.
Line Crude Oil Trading Chart - plots a continuous line connecting closing oil prices of a on the crude oil price chart.
Types of Crude Oil Charts and How to Read Them - What is a Line Oil Trading Charts?
What is a Bar Oil Trading Charts?
Bar Crude Oil Trading Charts are charts representation of the oil price displayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW & CLOSE. The Opening crude oil price is displayed as a horizontal dash on left & closing crude oil price as a horizontal dash on the right.
Types of Crude Oil Charts and How to Read Them - What is a Bar Oil Trading Charts
