XAUUSD Price Action 1-2-3 XAUUSD Price Action XAUUSD Strategy

XAUUSD Price action xauusd is the use of only gold price charts to trade XAUUSD, without the use of technical chart indicators. When trading with this gold price action strategy, candlestick xauusd charts are used.

XAUUSD Price Action Trading System in XAUUSD

The best use of this gold price action strategy is achieved when the gold price action trading signals generated are combined with other xauusd indicators so as to provide extra confirmation. This is then used a xauusd system.

The xauusd system includes gold price action trading together with xauusd indicators trading so as to come up with a xauusd system or a xauusd strategy based on these two methods of xauusd technical analysis.

XAUUSD Price Action 1-2-3 Breakout XAUUSD Strategy

This gold price action trading strategy uses three chart points to determine the break out direction of a xauusd. The 1-2-3 gold price action strategy uses a peak and a trough, these points forms point 1 and point 2, if market moves above the peak the signal is long, if it moves below the trough the signal is to short. The break out of point 1 or point 2 forms the third point.

XAUUSD Price Action 1-2-3 XAUUSD Price Action XAUUSD Strategy

As with any other xauusd trading strategy this gold price action trading strategy should also be combined with other xauusd technical indicators to confirm the gold price action signals and avoid whipsaws. The 1-2-3 gold price action trading pattern can give good xauusd signals in a trending market but will give whipsaws when the xauusd market is ranging, it is best to determine if the xauusd market is trending or not before you start using this gold price action strategy.

Combining XAUUSD Price Action Strategy with other Indicators

Good xauusd indicators to combine gold price action trading with are:

• RSI

• Moving Average

gold traders should use these two xauusd technical indicators to confirm if the direction of breakout gold price action signal is in line with the xauusd trend direction shown by these two xauusd chart indicators.

If the direction is also the same as those of these xauusd indicators then gold traders can open a trade in the direction of the gold price action signal.

If not gold traders should not open a trade as there is more likely a chance that this gold price action signal may be a xauusd whipsaw.

Just like any other chart indicator in XAUUSD, gold price action also has whipsaws and there is a requirement to use this gold price action strategy with other indicators as a combination with other signals from these indicators as opposed to just using this gold price action strategy alone.

XAUUSD Price Action XAUUSD Strategy