How Do I Draw Channels on Charts?
How Do You Draw Channels on Charts?
There are two types of xauusd Channels - up-ward trend-line & downwards Channels. The xauusd step by step guide of how to draw Channels for up-ward & down ward trends is described below:
Trading Gold Draw Channels XAUUSD on Gold Charts
An upward xauusd channel is plotted by drawing a line that's parallel to the upward trend-line and then adjusted to touch the tops boundary of the price movement. This then forms a channel & as long as a price stays between these 2 trend channels the bullish upward market movement will continue heading upwards.
Draw Channels XAUUSD Trading on Charts - Draw Upward Channels
Trading Draw Channels XAUUSD Trading on Charts
A downward xauusd channel is plotted by drawing a line that's parallel to the downward trendline & then adjusting it to touch the bottom boundary of the price movement. This then forms a down-ward xauusd channel and as long as a price stays between these two channels the general xauusd trend direction is intact the market trend direction will continue being bearish.
Draw Channels XAUUSD Trading on Charts - Draw Downward Channels
Trading Gold Draw Channels XAUUSD on Gold Charts
To draw Channels on MT4 Gold Charts use MT4 Charts Drawing Tools for Drawing XAUUSD Channels on MT4 Gold Charts
The MT4 Channels drawing tools which are used to draw these xauusd Channels setups in the MetaTrader 4 are located on the MetaTrader 4 drawing charts toolbar within the MetaTrader 4 charts, To access this MetaTrader 4 charts toolbar if it's not activated on your platform, Click in 'View' Next to the 'File' menu at top left corner of MetaTrader 4 platform & click 'View', Then Click the 'ToolBars' button key, Then Check on the 'Lines Tool-Bar' by clicking on it.
Below is the example of the MetaTrader 4 Channels drawing charts toolbar. To draw Channels on a charts just click on this Channels drawing tool and select the point where you want to plot the upwards xauusd channels or downwards xauusd Channels.
How Do I Draw Channels on Charts in MetaTrader 4 Charts
How Do I Draw Gold Channels on XAUUSD Charts?
