How Do I Read MetaTrader 5 Gold Charts?
How to Trade MetaTrader 5 Charts
There are 3 types of MetaTrader 5 Gold Charts used in Gold:
MT5 Line Charts - MetaTrader 5 XAUUSD line charts draw a continuous line connecting closing xauusd prices.
How Do I Analyze MetaTrader 5 Gold Charts? - How Do I Read MetaTrader 5 Gold Charts?
MT5 Bar Charts - MetaTrader 5 Gold bar charts are 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.
How Do I Analyze MetaTrader 5 Gold Charts? - How Do I Read MetaTrader 5 Gold Charts?
The main disadvantage of MetaTrader 5 XAUUSD bar chart - MetaTrader 5 Bar Chart is that it is not visually appealing, therefore most gold traders don't use MetaTrader 5 Bar Charts.
Candlesticks Chart MetaTrader 5 Gold Candlesticks Charts - these gold MetaTrader 5 candlesticks charts use the same price data as gold MetaTrader 5 bar charts (open xauusd price, high xauusd price, low xauusd price, and close xauusd price). However, MetaTrader 5 candlesticks charts are represented a much more visually identifiable way which resembles a candle with wicks on both ends.
Interpret Candlesticks MetaTrader 5 XAUUSD Charts
The rectangle part of the MetaTrader 5 gold candlestick is called the body.
The high xauusd price and low xauusd price are described as shadows and drawn as poking lines.
How Do You Analyze XAUUSD MetaTrader 5 Charts - How to Trade MetaTrader 5 Charts?
The color of the MetaTrader 5 xauusd trading candle is either blue or red:
- (Blue or Green Color Candlesticks) - Gold Prices moved up
- (Red Color Candlesticks) - Gold Prices moved down
Most gold trading platforms like the MetaTrader 5 Gold Trading Platform - uses colors to mark the direction of the xauusd price. MetaTrader 5 Gold Candlesticks Chart colors used are blue or green: when price moves up, color of MetaTrader 5 Gold Candlestick is blue: when the price moves down, color of MetaTrader 5 Gold Candlestick is red.
How to Trade MetaTrader 5 Charts
When MetaTrader 5 candlesticks charts are used it is very easy to see if the xauusd prices moved upwards or downwards as opposed to when MetaTrader 5 gold bar charts are used.
The Japanese candlesticks charts trading techniques also have very many different types of gold patterns - the most common are:
Learn MetaTrader 5 XAUUSD Charts for Beginner Traders
The above MetaTrader 5 Gold Charts Technical Analysis is what makes the MetaTrader 5 Candlesticks Chart Analysis popular among gold traders and it this why this type of technical MetaTrader 5 Gold Chart analysis is the most widely used when it comes to analyzing the xauusd market.
How Do You Read MetaTrader 5 Gold Charts?
