How to Trade Gold MT4 Charts Beginner Traders XAUUSD Guide
There are Three types of charts used in Gold: Line, bar & candles - how to Trade Gold Trading charts beginners Guide.
How to Trade MetaTrader 4 XAUUSD Chart Patterns
Line Charts - gold line charts draws a continuous line connecting closing xauusd prices of gold.
Gold Trading Line MT4 Gold Chart - How to Trade XAUUSD MT4 Charts Beginners Gold Guide
MetaTrader 4 Gold Chart Bar Charts - gold bar charts are displayed as sequence of OHCL bars. O-H-C-L represents OPEN HIGH LOW and CLOSE. Opening xauusd price is displayed as a horizontal dash on the left & closing xauusd price as a horizontal dash on the right.
Gold Bar MT4 Gold Chart Charts- How to Trade XAUUSD MT4 Charts Beginners Gold Guide
The main disadvantage of a bar chart MT4 Gold Chart is that it is not visually appealing, therefore most traders don't use them.
Candlesticks Chart MT4 Gold Chart - these gold candles chart MetaTrader 4 Gold Chart use the same price data as 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 Gold MT4 Charts
The rectangle part is called the body.
The high and low are described as shadows & drawn as poking lines.
Gold Candles Charts
The color of the xauusd candlestick is either blue or red:
- (Blue or Green Color Candles) - Gold Prices moved up
- (Red Color Candlesticks) - Gold Prices moved down
Most gold trading platforms like the MT4 XAUUSD Trading Software, use colors to mark the direction of the xauusd price. MetaTrader 4 Gold Chart Candles colors used are blue or green: when price moves upwards, color of MetaTrader 4 Gold Chart candle is blue: when price moves downward, color of MT4 Gold Chart candle is red.
How to Trade XAUUSD MT4 Charts Beginners Gold Guide
When Gold MT4 candlesticks charts are used it's very easy to see if the xauusd price moved up or down as opposed to when MT4 bar charts are used.
The Japanese candles charts trading techniques also have very many patterns & formations that are used to trade the Gold Trading Markets. These xauusd chart patterns have different xauusd trading analysis interpretation & the most common are:
How to Trade XAUUSD MT4 Charts Beginners XAUUSD Guide
The above MT4 Gold Chart patterns is what makes the Japanese Gold MT4 Charts candles patterns popular among gold traders & it is why this type of technical MT4 Gold Chart analysis are the most widely used when it comes to trading the Gold market.
