|$30 range around $1200/oz is highlighted in yellow.|
Data points are for Jan - May 2015, from Oanda.
Still working on how to best analyse these, except to suggest that 1180 and 1250 levels are the levels to watch and might be good resistance points in the short term, e.g. Gold failed to break 1180 yesterday and bounced. Take my chart analysis with a grain of salt however - since I have nowhere near the level of Technical Analysis skills that GM Jenkins has - I'm just filling in for him since according to his Agent he is currently banned from the public library for two overdue books!
Reason for posting - if anyone has these type of charts automatically built into their trading client (as I think some do), I'm interested in knowing how best to use them. I can offer more data transforms in future posts, in return.
---------- Update: Sunday 31st May
as per discussion below I've been playing with charting on the same candlestick range for tick volume from the Oanda platform (calendar year of 2015 to date) > the purple chart compares total volume for each particular price point compared against other prices. I think this is the one which shows in some trading clients. The largest volme spike occurs near the lowest point seen this year for gold. I'm not a long term trader so this is presented without comment.