What is Candlesticks Charts?
Types of XAUUSD Charts
There are 3 types of gold charts: Line gold chart, bar chart and candlestick chart.
Candlesticks Charts - the candlesticks charts use the same price data as gold bar 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 Candlesticks Charts
The rectangle part of the candlestick is called the body.
The high and low are described as shadows and are drawn as poking lines.
Different Types of XAUUSD Charts - Types of XAUUSD Charts and How to Read Them - What is Candlesticks Charts?
The color of the xauusd trading candle is either blue or red
- (Blue or Green Color candlestick) - Gold price moved up
- (Red Color candlestick) - Gold price moved down
Most xauusd trading platforms like the MetaTrader 4 platform, use colors to mark the direction of the xauusd price. colors used are blue or green: - green gold candlestick when price moves up, red gold candlestick when price moves down.
What is a Line Charts?
A line chart in Gold draws the closing xauusd price of gold and connects this closing xauusd price to the closing xauusd price of the next trading period hence forming a continuous gold line chart that draws the movement of xauusd price movement.
Line Chart - draws a continuous line connecting closing xauusd prices of a on the xauusd price chart.
Different Types of XAUUSD Charts - Types of XAUUSD Charts and How to Read Them - What is a Line Charts?
What is a Bar Charts?
Bar Charts are charts representation of the xauusd price displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW & CLOSE. The Opening xauusd price is displayed as a horizontal dash on the left and closing xauusd price as a horizontal dash on the right.
Different Types of XAUUSD Charts - Types of Gold Charts and How to Read Them - What is a Bar Charts
