What's Candlesticks Charts?
Types of XAUUSD Charts
There are 3 types of gold charts: Line gold chart, bar chart & candlestick chart.
Candle Sticks 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 Candles Charts
Rectangle part of the candle is known as body.
The high and low are described as shadows & are plotted 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 candle is either blue or red
- (Blue or Green Color candlestick) - Gold price moved up
- (Red Color candle) - Gold price moved down
Most xauusd trading platforms like the MT4 software, use colors to mark the direction of the xauusd price. Colors used are blue or green: - green gold candle-stick when price moves up, red gold candle stick when price moves down.
What's Line Charts?
A line chart in Gold draws the closing xauusd price of gold & connects this closing xauusd price to the closing xauusd price of the next trading period hence forming a continuous gold line chart which 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's 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. Opening xauusd price is displayed as a horizontal dash on the left & 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
