How to Read Oil Charts Beginners Course

Crude Oil Trading Chart Analysis

There are 3 types of charts used in Oil Trading: Line Oil Trading Chart, Bar Oil Trading Chart and Candlesticks Crude Oil Chart - how to read oil charts beginners PDF.

How to Read Oil Trading Chart Analysis

Line Crude Oil Trading Charts - oil line oil charts plot a continuous line connecting closing oil prices of oil.

Oil Trading Line Oil Charts - How to Read Oil Charts Beginner Traders Guide

Bar Oil Trading Chart - oil trading bar crude oil charts are 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.

Oil Trading Bar Oil Trading Charts- How to Read Oil Charts Beginner Traders Guide

The main disadvantage of oil trading bar oil chart is that it is not visually appealing, therefore most traders don't use them.

Candlesticks Oil Trading Charts - these candlesticks oil charts use the same crude oil price data as oil trading bar oil charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle stick with wicks on both ends.

How to Interpret Candles Oil Charts

The rectangle part of the oil candle-stick is called the body.

The high & low of oil candle are described as shadows and drawn as poking lines.

How to Read Oil Charts Beginner Traders Guide

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

• (Blue or Green Color Candles) - Oil Trading Prices moved up
• (Red Color Candlesticks) - Oil Trading Prices moved down

Most oil trading platforms like the MT4 Oil Trading Software, use colors to mark the direction of the crude oil price. Oil Trading Candlesticks colors used are blue or green: when crude oil price moves up, color of oil candlestick is blue: when crude oil price moves down, color of oil candlestick is red.

Candlesticks Crude Oil Trading Charts vs Bar Oil Trading Charts

When Oil candlesticks crude oil charts are used it is very easy to see if the crude oil price moved up or down as opposed to when bar crude oil charts are used.

The Japanese candlesticks oil charts techniques also have very many candlesticks formations which are used to trade the Oil Trading Markets. These crude oil chart patterns have different crude oil trading analysis explanation & the most common are:

How to Read Crude Oil Trading Chart Patterns Beginners PDF

The above crude oil candles patterns is what makes the Japanese candlesticks crude oil chart patterns popular among oil traders & it is why this type of technical oil chart analysis are the most widely used when it comes to analyzing the Oil Trading market. The analysis for these oil charts pattern formations in oil trading is the same as that one used in stocks trading.