What Oil Trading Chart Should I Trade With?

The most popular oil charts in the Oil Trading Market are : Line charts, Bar charts & Candle charts.

As a beginner wanting to know which oil chart you should trade with the advantages of the Candlesticks charts are explained below - which makes the candlesticks oil charts the best choice of oil trading with.

The oil candlesticks are easy to use as compared to line oil charts or bar oil trading charts.

How to Read Candles Oil Trading Charts

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

How to Analyze Candles Oil Trading Charts

The rectangle part of the candle is called the body.

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

How to Read Candlestick Oil Trading Charts for Beginners Guide

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

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

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

Candles Oil Trading Charts Vs. Bar Crude 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.