Different Types of Charts
Types of Charts
There are 3 types of charts: Line chart, bar chart & candle chart.
Candles Charts - Types of Candlesticks Charts in Gold Trading - the candles charts use the same price info as bar charts (open, high, low, & close). However, they represent the charts in a more easily identifiable way which resembles and looks like a candlestick with wicks on both ends.
How Do I Trade Candles Charts
The rectangle part of the candle is called the body.
The high and low are referred to as shadows and are drawn as poking and protruding lines.
Various Types of Charts - Types of Charts and How to Read Them - Types of Candle Chart
The colour of the candlestick is either blue or red
- (Blue or Green Color candlestick) - price moved upward
- (Red Color candle-stick) - price moved downward
Most trading softwaresplatforms like the MT4 platform, use colours to mark the direction of the price. Colours used are blue or green: - green candle stick when price moves upwards, red candle when the price moves downward.
Line Charts in Gold Trading
A line chart in XAUUSD draws the closing price of gold and connects this closing price to the closing price of the next period therefore forming a continuous line chart which plots the movement of price movement.
Line Chart - draws a continuous line joining closing prices of a trading instrument the price chart.
Various Types of Charts - Types of Charts and How to Read Them - Types of Line Chart - Types of Line Chart in Gold Trading
Bar Chart in Gold Trading
Bar Charts are charts representation of the price displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW and CLOSE. The Opening price is displayed & illustrated as a horizontal hyphen to the left and the closing price is illustrated & shown as a horizontal hyphen to the right side.
Various Types of Charts - Types of Charts Tutorial - Different Types of Charts - How Can I Trade Charts
Study More Tutorials:
- Where Can You Find MT4 XAUUSD Symbols Listing?
- How to Trade Different Types of XAU/USD Charts
- How Do I Choose a XAUUSD Broker for Nano Account?
- How to Add Moving Average XAU/USD Indicator in Chart in MetaTrader 4 Software
- Example of How to Generate Signals with This XAU/USD Strategy
- MT5 Gator Oscillator Indicator for MT5 Gold Platform
- How to Read XAUUSD MT4 Charts Beginners Lesson
- Trading with Short-term and Long term XAUUSD MAs XAU USD Strategies
- Gold Tips for Improving Gold Results
- How to Use MetaTrader 4 Software Tutorial Lesson
