How to Read When to open a Buy or a Sell XAUUSD Trade
How Do I Analyze When to open a Buy or a Sell Trade?
For a beginner trader wanting to know how to interpret and analyze when to open a buy or a sell xauusd trade - you should come up with a system or strategy that has a set of xauusd rules that determine when you open a buy trade or a sell xauusd trade in the market - & also when you close the buy trade or sell xauusd trade. This system will use indicators - Buy & Sell XAUUSD Signal Indicators.
An example of a system is explained below: traders can use this system example template to come up with their own strategy that they will use to identify and determine when to open a buy trade or a sell trade.
How to Read When to open a Buy or a Sell XAUUSD Trade
So, How Can a Trader Generate Buy Signals and Sell XAUUSD Signals?
The best way of generating buy xauusd and sell signals is through systems, You can Learn how to come up with systems from the lesson XAUUSD Systems on the right navigation menu of this learn web site under the topics Learn Key Concepts.
A xauusd system is explained as a combination of one or two or more indicators with written rules of how these indicators will generate buy and sell signals.
How Do I Analyze When to open a Buy or a Sell XAUUSD Trade?
An example of a simple system that works is a combination of:
- Moving average cross over strategy
- RSI
- MACD indicator
The written rules for generating buy and sell signals are:
How to Read When to open a Buy or a Sell Trade
XAUUSD System XAUUSD Rules - for Buy & Sell XAUUSD Signals:
Buy Trade Signal is Generated when:
- Both Moving averages moving up
- RSI indicator value above 50
- MACD above center line
Sell Gold Trade Signal is Generated when:
- Both Moving averages moving down
- RSI indicator value below 50
- MACD below center line
How Do You Interpret When to open a Buy or a Sell XAUUSD Trade
Exit Signal
Exit signal is generated when MA, RSI & MACD give a signal in the opposite direction.
For a starter trader the above Indicators for generating Buy & Sell XAUUSD Signals using the written rules will generate good buy and sell signals, the only thing that a trader needs to do is to have the discipline to follow the written rules exactly way they are, and wait for a buy signal or a sell signal to be generated by the system and trade after the buy & sell signals have been generated, not before these signals are generated.
Interpret When to open a Buy or a Sell XAUUSD Trade?
