What are Crude Oil Trading Charts?
A crude crude oil trading price chart is a representation of a sequence of crude oil trading prices drawn on a graph as a oil chart representation of crude oil trading price movements.
This crude crude oil trading price movement is then drawn over a period of time and this chart crude crude oil trading price moves drawn on the crude oil chart can be used to analyze the movement of a particular oil instrument so as to determine if the oil trend for that oil is down or up.
Oil Price Charts
A crude crude oil trading price chart provides a representation of exchange rates (drawn on the y-axis) against time (drawn on the x-axis) for crude oil.
The movement of crude oil trading prices is drawn on these crude crude oil trading price charts. The chart can be drawn as candlestick crude crude oil trading price charts like the one below or as line crude crude oil trading price charts or bar crude crude oil trading price charts.
What's a Oil Trading Price Chart? - What is Crude Oil Price Chart? - What are Oil Trading Charts
Technical analysis of oil charts is then applied to these charts by using oil tools provided by the oil software. For example oil 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 scalper use the 1 minute oil chart time frame and the 5 minute oil chart time frames
- Oil day traders use the 15 minute oil chart time frame and the 1 hour oil chart time frames
- Oil swing traders use the 4 hour oil chart time frame and the daily oil chart time frames
Chart Time Frames in MT4 Crude Oil Trading Platform
Periodicity just means chart time frames, in MT4 oil platform this charts time frames toolbar is used to select which chart time frames to trade with.
Oil Trading Price Chart Timeframes – What are Oil Trading Price Charts?
The crude crude oil price charts – chart time-frames listed in the MT4 software are:
- 1 Minute – M1
- 5 Min – M5
- 15 Minutes - M15
- 30 Minutes - M30
- 1 Hour – H1
- 4 Hours - H4
- Daily – D1
- Weekly - W1
- Monthly - MN
Type of Oil Trading Price Charts
The three common types of crude crude oil trading price charts used in oil trading are:
- Candlestick Oil Trading Price Charts
- Line Oil Trading Price Charts
- Bar Oil Trading Price Charts
These 3 types of crude crude oil trading price charts are covered in the topic Crude Oil Trading Chart Types.
