How Do I Read Oil Trading Price Charts?
Types of Oil Trading Bar Charts
A crude oil price chart is a representation of a sequence of crude oil prices plotted on a graph as a oil chart representation of crude oil price movements.
This crude oil price movement is then drawn over a period of time and this chart crude oil price moves drawn on the crude oil chart can be used to analyze the movement of crude oil price so as to determine if the oil trend for that oil instrument is heading downwards or up.
Oil Price Crude Trading Charts
A Oil price chart provides a representation of crude oil price (drawn on the y-axis) against time (drawn on the x-axis) for crude oil.
The movement of crude oil prices is drawn on these crude oil price charts. The oil chart can be drawn as candlestick crude oil price charts like the one below or as line crude oil price charts or bar crude oil price charts.
What's a Oil Price Oil Trading Chart? - What is Crude Oil Price Chart? - What are Oil Trading Charts
Technical analysis of oil charts is then applied to these oil charts by using oil tools provided by the oil software. For example oil trading MT4 platform provided oil indicators & oil line studies that can be used to analyze these crude oil charts.
Oil charts can also be drawn using different chart time frames.
The different chart time frames are used by different types of crude oil traders.
For example:
- Oil Trading scalper use the 1 minute oil chart time frame and the 5 minute oil chart time frames
- Oil Trading day traders use the 15 minute oil chart time frame and the 1 hour oil chart time frames
- Oil Trading swing traders use the 4 hour oil chart time frame and the daily oil chart time frames
Chart Timeframes on MT4 Crude Trading Platform
Periodicity just means oil chart time frames, in MT4 oil platform this MT4 oil charts time frames toolbar is used to select which oil chart time frames to oil trade with.
Oil Trading Price Chart Timeframes - What are Oil Price Oil Trading Charts?
The crude oil price charts - chart time frames listed on the MT4 platform are:
- 1 Minutes - M1 Oil Price Oil Trading Chart
- 5 Minute - M5 Oil Price Oil Trading Chart
- 15 Minutes - M15 Oil Price Oil Trading Chart
- 30 Min - M30 Oil Price Oil Trading Chart
- 1 H - 1 Hour Oil Price Oil Trading Chart
- 4 Hours - H4 Oil Price Oil Trading Chart
- Daily - D Oil Price Oil Trading Chart
- Weekly - W Oil Price Oil Trading Chart
- Monthly - MN
Type of Oil Price Crude Trading Charts
The three common types of crude oil price charts used in oil trading are:
- Candlestick Oil Price Crude Trading Charts
- Line Oil Price Crude Trading Charts
- Bar Oil Price Crude Trading Charts
These 3 types of crude oil price oil charts are covered in the topic Types of Crude Trading Charts.
Technical Analysis Using Crude Oil Charts - Types of Oil Trading Candles Charts - Types of Oil Trading Bar Charts
