Draw a XAUUSD Trend-Line on a Gold Chart

XAUUSD Trading Draw a XAUUSD Trend-Line on a XAUUSD Chart

XAUUSD Guide on Trading Gold Draw a XAUUSD Trend-Line on a Gold Chart - How Do You Draw XAUUSD Trend Lines on Gold Charts

Principles of Trading Gold Draw a XAUUSD Trend-Line on a XAUUSD Chart

1. Use xauusd candle-stick charts to draw xauusd trend lines

2. The points used to draw a xauusd trend-line on a gold chart are along the lows of the gold price bars in a bullish gold market. An upward bullish xauusd trend is defined by higher highs and higher lows.
3. The points used to draw a xauusd trend-line on a gold chart are along the highs of the gold price bars in a bearish gold market. A downwards bearish xauusd trend is defined by lower highs & lower lows.
4. The points used to draw xauusd trend lines on the gold charts are the extremes points - the high or the low gold price. These gold price extremes are important because a close beyond the extreme chart points tells xauusd traders the trend of the xauusd instrument might be changing. This is an entry or an exit gold trade signal.
5. The more often a xauusd trend-line on a xauusd chart is hit but it's not broken, the more powerful its xauusd trend signal.

XAUUSD Trading Example 1: Trading Gold Draw a Upward XAUUSD Trend-Line on a XAUUSD Chart

To draw an upwards xauusd trend-line on a xauusd chart use 2 support points in a bullish upwards xauusd trend so that to draw the upwards trend line & then extend the trend line as illustrated and shown below. The upward xauusd trend-line on a xauusd chart will show the general direction of gold prices & as long as price is above this upward trend line then the upwards trend will remain intact - bullish upwards xauusd trend.

If gold prices move below the upward trend line which is the support level for the bullish upwards xauusd trend then gold traders should close all their open gold trades - because this might be a xauusd trend reversal trading signal. In an upward xauusd trend gold price should generally stay above support level which is marked by the upward trend line on the gold charts.

Draw a Upward XAUUSD Trend-Line on a Gold Chart in XAUUSD

Draw an Upwards XAUUSD Trend-Line on a Gold Chart - Draw a XAUUSD Trend-Line on a XAUUSD Chart

XAUUSD Trading Example 2: Trading Gold Draw a Downward XAUUSD Trend-Line on a XAUUSD Chart

To draw a downward xauusd trend-line on a xauusd chart use 2 resistance points in a bearish downwards xauusd trend so as to draw the downward xauusd trend line and then extend the trend line as illustrated below. The downwards xauusd trend-line on a xauusd chart will show the general direction of gold prices and as long as price is below this downwards trend line then the downward xauusd trend will remain intact - bearish downwards xauusd trend.

If gold prices move above the downwards xauusd trend line which is the resistance level for the bearish downwards xauusd trend then traders should close all their open gold trades - because this might be a xauusd trend reversal trading signal. In an downward xauusd trend gold price should generally stay below the resistance level which is marked by the downwards trend-line on a gold trading chart.

Draw a Downwards XAUUSD Trend-Line on a Gold Chart in XAUUSD

Draw a Downward XAUUSD Trend-Line on a Gold Chart - Draw a XAUUSD Trend-Line on a XAUUSD Chart

Draw a XAUUSD Trend-Line on a XAUUSD Chart