How to Read Gold Charts Beginners Tutorial
XAUUSD Chart Analysis
There are 3 types of charts used in Gold: Line Gold Chart, Bar Gold Chart and Candlesticks XAUUSD Chart - how to read gold charts beginners PDF.
How to Read XAUUSD Chart Analysis
Line XAUUSD Charts - gold line gold charts draw a continuous line connecting closing gold prices of gold.
Gold Trading Line Gold Charts - How to Read Gold Charts Beginners PDF
Bar Gold Chart - gold trading bar xauusd charts are displayed as sequence of OHCL bars. OHCL 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.
Gold Trading Bar Gold Charts- How to Read Gold Charts Beginners PDF
The main disadvantage of gold bar chart is that it is not visually appealing, therefore most gold traders don't use them.
Candlesticks Gold Charts - these gold candlesticks charts use the same xauusd price data as gold bar charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.
How to Interpret Candlesticks XAUUSD Charts
The rectangle part of the gold candlestick is called the body.
The high and low of the gold candlestick are described as shadows and drawn as poking lines.
Gold Candlesticks Charts
The color of the gold candlestick 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 MT4 Gold Trading Platform, use colors to mark the direction of the xauusd price. Gold Candlesticks colors used are blue or green; when xauusd price moves up, color of gold candlestick is blue; when xauusd price moves down, color of gold candlestick is red.
How to Read Gold Charts Beginners PDF
When Gold Trading candlesticks xauusd charts are used it is very easy to see if the xauusd price moved up or down as opposed to when bar xauusd charts are used.
The Japanese candlesticks gold charts trading techniques also have very many candlesticks formations that are used to trade the Gold Trading Markets. These xauusd chart patterns have different xauusd trading analysis interpretation and the most common are:
How to Read XAUUSD Chart Patterns Beginners PDF
The above xauusd candlesticks patterns is what makes the Japanese gold candlesticks chart patterns popular among gold traders and it is why this type of technical gold chart analysis are the most widely used when it comes to analyzing the Gold Trading market. The analysis for these gold charts pattern formations in gold trading is the same as that one used in stocks trading.
