Read a Trend
How Do I Trade a Trend
Steps to Identify a Trend - Trading Identify and Trade Trends in XAUUSD with Examples
Trading Identify Trends in Gold
Course: Trading Draw and Trade Upward Trend
Example of a Upwards Trend - Trading Identify Trends in XAUUSD
Trading Identify Trends in XAUUSD
Course: Trading Draw & Trade Downwards Trend
Example of a Downward Trend - Trading Identify Trends in XAUUSD
The trend is your best friend. Is a popular saying among traders because you never should go contrary the market trend when trading gold. This is the most reliable strategy to trade because once prices start to move in one direction they can move in that particular direction for quite some time - therefore using this trend method presents opportunity to make profits from the Trade market.
Principles of How Do You Draw Trendlines?
Use candlestick charts to draw trend lines
- The points used to plot the trend-line - upwards trend line are along the lows of the price bars in a upwards market. An upward bullish trend is defined by higher highs & higher lows.
- The points used to plot the trendline - downwards trend line are along the highs of the price bars in a falling market. A downward trend is defined by lower highs & lower lows.
- The points used to draw the trend lines are extremes points - the high or the low gold price. These extreme gold price areas are critical because a gold price close beyond these extremes tells traders the trend of instrument might be changing. This is an entry or an exit signal.
- The more often a trend line is hit but it isn't broken, more powerful its trend signal.
How Do I Analyze Trend - Read a Trend - How to Analyze a Trend - How Do I Trade a Trend
