How Do You Analyze Gold Candle Trading Pattern?

How to Analyze XAUUSD Candle Trading Pattern

To identify a xauusd candles pattern you will need to first learn about the various xauusd candlesticks patterns & learn under which setup these patterns form on the gold chart & what gold signal is generated by each of these xauusd candles patterns.

Among the various popular xauusd candlesticks patterns that every gold trader should know are:

Doji Gold Candlesticks

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 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

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Doji XAUUSD Chart Pattern - Doji Gold Candles - Trading XAUUSD Identify a XAUUSD Candle Pattern

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Doji XAUUSD Chart Pattern - Doji Gold Candles

Marubozu Gold Candlesticks

Marubozu xauusd candlestick pattern are long candles that have no upper or lower shadows, Like illustrated below.

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Marubozu Candles - Marubozu Gold Candles - Trading XAUUSD Identify a XAUUSD Candle Pattern

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

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 xauusd trading example illustrated and explained below shows the spinning tops candle pattern. You can look for the pattern in your MetaTrader 4 Gold Trading Platform gold charts. The xauusd trading examples illustrated and described below shows a screenshot to help traders when it comes to learning and understanding these gold candlestick pattern.

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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 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 Candlestick Pattern and Hanging Man Candle Pattern XAUUSD Candlesticks

Hammer Candle Pattern & Hanging Man Candle Pattern candles look alike but hammer is bullish xauusd reversal gold candle pattern and hanging man is a bearish xauusd reversal gold candlestick pattern.

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Hammer Candle Pattern & Hanging Man Candle Pattern - Gold Candles

Hammer XAUUSD Candles

Hammer gold candlestick pattern is a potentially bullish gold candlestick pattern which forms during a gold downward trend. It is named so because the xauusd market is hammering out a xauusd trading market bottom.

Hanging Man XAUUSD Candles

This hanging man candlestick pattern is a potentially bearish gold reversal trading signal which occurs during a gold upward trend. It is named so because it looks like a man hanging on a noose up high.

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Hanging Man Candle Pattern

Inverted Hammer XAUUSD Candles

This is a bullish gold reversal candle pattern. It forms at the bottom of a Gold trend.

Inverted hammer candle pattern occurs at the bottom of a downward gold trend & indicates the possibility of reversal of the downwards Gold trend.

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Shooting Star XAUUSD Candles

Shooting Star is a bearish gold reversal candlestick pattern. It occurs at the tops of a xauusd trend.

Shooting Star gold candle pattern occur at the top of an upward gold trend in the Gold market where the open xauusd price is same as the low & xauusd price then rallied up but was pushed back down to close near the open.

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Shooting Star Candle-Stick - Gold Candles

Piercing Line XAUUSD Candles

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 pattern is a bullish gold reversal candle pattern that forms at the bottom of a gold market downward trend. It shows that the xauusd market opens lower & closes above the midpoint of the black body.

This Piercing Line gold candle pattern shows that the momentum of the downward 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 gold market floor for the xauusd price downwards trend.

How to Read Piercing Line XAUUSD Candlestick Pattern

Piercing Line Candle Pattern - Gold Candles

Dark Cloud Cover XAUUSD Candles

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 pattern shows that the momentum of the upward trend is reducing & the xauusd market trend is likely to reverse & move in a downward xauusd 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.

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Dark Cloud Cover Candle Pattern

Morning Star XAUUSD Candles

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Morning Star Candlestick Pattern - Gold Candles

Evening Star XAUUSD Candles

Opposite of the morning star candlestick pattern

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Evening Star Candle Pattern - Gold Candles

XAUUSD Candlesticks

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 downwards gold trend or at the end of a xauusd market upward trend.

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