What are the 3 Types of Commodities Trading Charts?
Types of Commodity charts
There are Three types of charts used in Commodities: Line Commodity Trading Charts, Bar Commodities Charts and Candles Commodity Trading Charts.
Line Charts - draws a continuous line connecting closing commodities prices of a commodity.
Commodity Trading Line Charts - What are the 3 Types of Commodity Trading Charts?
Bar Commodity Trading Charts- displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. The Opening commodities price is displayed as a horizontal dash on the left & closing commodities price as a horizontal dash on right.
Commodities Bar Commodities Trade Charts - What are the 3 Types of Commodity Trading Charts?
Candlestick Commodity Trading Charts - these use the same commodities price data as bar commodity charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.
How to Analyze
Rectangle section is called the body.
The high and low are described as shadows & plotted as poking lines.
Commodity Trading Candlesticks Charts - What are the 3 Types of Commodity Charts?
The color of the candlestick is either blue or red
- (Blue or Green Color) - Commodities Prices moved up
- (Red Color) - Commodities Prices moved down
Most commodities trading platforms like the MT4, use colors to mark the direction. Colors used are blue or green: when commodities price moves up, red: when commodities price moves down.
