How to Read XAUUSD MT4 Charts Beginners Gold Trading Tutorial
There are 3 types of charts used in Gold: Line, bar and candlesticks - how to read gold charts beginners Tutorial.
How to Read MT4 XAUUSD Chart Patterns
Line Charts - gold line gold charts plots a continuous line connecting closing gold prices of gold.
Gold Trading Line MT4 Gold Chart- How to Read XAUUSD MT4 Charts Beginners Gold Trading Tutorial
MT4 Gold Chart Bar Charts - 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 MT4 Gold Chart Charts- How to Read XAUUSD MT4 Charts Beginners Gold Trading Tutorial
The main disadvantage of a bar gold chart MT4 Gold Chart is that it is not visually appealing, therefore most gold traders don't use them.
Candlesticks Gold Chart MT4 Gold Chart - these gold candlesticks chart MT4 Gold Chart use the same xauusd price data as bar gold 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 Trading MT4 Charts
The rectangle part is called the body.
The high and low 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 gold price. MT4 Gold Chart Candlesticks colors used are blue or green; when xauusd price moves up, color of MT4 Gold Chart candlestick is blue; when xauusd price moves down, color of MT4 Gold Chart candlestick is red.
How to Read XAUUSD MT4 Charts Beginners Gold Trading Tutorial
When Gold Trading MT4 candlesticks xauusd charts are used it is very easy to see if the xauusd price moved up or down as opposed to when MT4 bar xauusd charts are used.
The Japanese candlesticks gold charts trading techniques also have very many patterns and 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 MT4 Charts Beginners XAUUSD Trading Tutorial
The above MT4 Gold Chart patterns is what makes the Japanese Gold Trading MT4 Charts candlesticks xauusd chart patterns popular among gold traders and it is why this type of technical MT4 Gold Chart analysis are the most widely used when it comes to analyzing the Gold market.
