XAUUSD Candlestick Patterns for Day Trading
Drawing XAUUSD Candlesticks on MT4
To draw these gold candlesticks on the MT4, choose the charts drawing tools within the "MT4 Toolbar" - shown below.
To view this tool-bar in MetaTrader 4 navigate to "View" Next to file at top left corner of the MT4 Platform, Click "View", Then Click "Tool bars", Then check the "Charts" Button. The above tool bar will appear.
Once the above toolbar, appears you can then select the type you want to convert to, If you want to trade using the bar charts, click the bar tool button as shown above, for line charts click the line tool button, for Japanese candlesticks patterns format click the "candlesticks chart tools button".
Gold Candles Tutorial
Doji XAUUSD Candles Tutorial
This is a gold candlestick pattern with same opening and closing xauusd price. There are various types of doji candlesticks pattern that form on Gold charts.
following examples explain various patterns of the doji candle:
Long-legged doji candle pattern has long upper & lower shadows with the opening & closing xauusd trading price at the middle. When the Long-legged doji pops up on a Gold chart it indicates indecision between xauusd traders, buyers & sellers.
Below is example screen shot image of the Long Legged Doji xauusd trading candles pattern
Doji XAUUSD Chart Pattern - Doji Gold Candles Tutorial
Doji XAUUSD Chart Pattern - Doji Gold Candles Tutorial
Marubozu XAUUSD Candles Tutorial
Marubozu xauusd candlestick pattern are long candles that have no upper or lower shadows, Like illustrated below.
Marubozu Candles - Marubozu Gold Candles Tutorial
Marubozu gold candlestick pattern are continuing gold candlestick patterns that show xauusd price is going to continue in same direction as that of the marubozu candlestick. The marubozu candles pattern can be white/blue or black/red depending on direction of the trend.
Spinning Tops Candlesticks XAUUSD Candles Tutorial
Spinning tops gold candlestick pattern have a small body with long upper and lower shadows. These spinning top candles patterns are referred to by this name because these candles formations are similar to spinning tops on a match-stick.
The upper & lower shadows of the spinning tops xauusd candles pattern are longer than the body. The examples illustrated & explained below shows the spinning tops candle pattern. You can look for the pattern in your MetaTrader 4 Gold Trading Platform gold charts. The examples illustrated & explained below shows a screenshot to help traders when it comes to learning & understanding these gold candlestick pattern.
How to Read Gold Candlestick Charts - Spinning Tops Gold Candles Tutorial
Color of the spinning tops candle xauusd candlesticks pattern isn't very important, this pattern explain the indecision between buyers and sellers in the Gold Trading market. When these xauusd chart patterns appear at the top of a gold trend or at the bottom of the gold trend it may trading signal that the trend is coming to an end and it may soon reverse and begin going the other direction. However, it is better to wait for confirmation signals that the direction of a gold has reversed before trading the signal from this gold candle pattern formation.
Hammer Candle Pattern & Hanging Man XAUUSD Candles Tutorial
Hammer Candlestick Pattern & Hanging Man Candle Pattern candles look alike but hammer is bullish reversal gold candle-stick pattern & hanging man is a bearish reversal gold candlestick pattern.
Hammer Candle Pattern & Hanging Man Candle Pattern - Gold Candles Tutorial
Hammer XAUUSD Candles Tutorial
Hammer gold candlestick pattern is a potentially bullish gold candlestick pattern which forms during a downwards xauusd trend. It is named so because the xauusd market is hammering out a market bottom.
Hanging Man XAUUSD Candles Tutorial
This hanging man candlestick pattern is a potentially bearish gold trading reversal trading signal which occurs during a upwards xauusd trend. It is named so because it looks like a man hanging on a noose up high.
Hanging Man Candle Pattern
Inverted Hammer XAUUSD Candles Tutorial
This is a bullish reversal candle pattern. It forms at the bottom of a Gold trend.
Inverted hammer candlestick pattern forms at the bottom of a down gold trend & indicates the possibility of reversal of the downwards xauusd trend.
Inverted Hammer Candlestick Pattern - Gold Candles Tutorial
Shooting Star XAUUSD Candles Tutorial
Shooting Star is a bearish reversal candlestick pattern. It occurs at the tops of a xauusd trend.
Shooting Star gold candlestick pattern form at the top of an up gold trend in the xauusd market where the open xauusd price is same as the low & xauusd price then rallied up but was pushed back downward to close near the open.
Shooting Star Candle-Stick - Gold Candles Tutorial
Piercing Line XAUUSD Candles Tutorial
Piercing line candlestick pattern is a long black body followed by a long white body candlestick.
The white body pierces the mid point of the prior black body.
This Piercing Line gold candle-stick pattern is a bullish reversal candle pattern that forms at the bottom of a market downwards xauusd trend. It shows that the xauusd market opens lower & closes above the midpoint of the black body.
This Piercing Line gold candlestick pattern shows that the momentum of the down gold trend is reducing & the xauusd market trend is likely to reverse & move in an upwards direction.
This Piercing Line gold candlestick pattern is shown referred to as a piercing line signifying the xauusd market is piercing the bottoms showing a market floor for the xauusd price downwards trend.
Piercing Line XAUUSD Candlestick Pattern - Gold Candles Tutorial
Dark Cloud Cover XAUUSD Candles Tutorial
Opposite of piercing candle xauusd candle.
This candle is a long white body followed by a long black body.
Black body pierces the midpoint of the prior white body.
This is a bearish reversal gold pattern which forms at the top of an upward xauusd trend.
Dark Cloud cover gold candlestick pattern that the xauusd market opens higher & closes below the midpoint of the white body.
Dark Cloud cover gold candle-stick pattern shows that the momentum of the up gold trend is reducing & the xauusd market trend is likely to reverse & move in a downward gold trading direction.
Dark Cloud cover gold candle-stick pattern is shown known as a cloud cover signifying the cloud as a ceiling for the xauusd price upward trend.
Dark Cloud Cover Candle Pattern
Morning Star XAUUSD Candles Tutorial
Morning Star Candlestick Pattern - Gold Candles Tutorial
Evening Star XAUUSD Candles Tutorial
Opposite of the morning star candlestick pattern
Evening Star Candle Pattern - Gold Candlesticks Guide - Candlestick Guide
Gold Candles Tutorial
Engulfing is a reversal candle pattern that can be bearish or bullish depending upon whether it shows up at the end of a gold market down gold trend or at the end of a xauusd market upwards trend.
Bullish and Bearish Engulfing Candlesticks Patterns - Gold Candles Tutorial
Drawing Gold Candlesticks on MT4 - Candles Patterns Guide for Day Trading