How Do I Draw Trend-Lines for Intraday XAUUSD?
How to Draw Trend-Lines for Intraday XAUUSD
Example 1: How to Draw Upwards Trend-Lines for Intraday XAUUSD
To draw an upwards trend line on a chart use 2 support points in a bullish upward trend so that to draw the upward trend-line and then extend the trend line as illustrated and shown below. The upward trend line on a chart will show the general direction of prices & as long as trading price is above this upwards trend-line then the upwards trend will remain intact - bullish up trend.
If prices goes below the intraday upward trend line which is the support level for the bullish upwards trend then traders should close all their open trade transactions - because this may be a trend reversal signal. In an upwards trend price should generally stay above the support area which is marked by the upwards intraday trend line.
How Do I Draw Trend-Lines for Intraday Gold - Up Trend-Line
How Do I Draw Up-ward Trend-Lines for Intraday XAUUSD
Examples 2: How to Draw Down-wards Trend-Lines for Intraday XAUUSD
To draw a down ward intraday trend line on a chart use 2 resistance points in a bearish downwards trend so as to draw the downward trend-line and then extend the trend line as illustrated below. The downward trend-line on a chart will show the general direction of prices & as long as trading price is below this downwards trend line then the downwards intraday trend will remain intact - bearish down trend.
If prices move above the downwards trend line which is the resistance level for the bearish downwards trend then traders should close all their open trade transactions - because this may be a trend reversal signal. In an downward trend price should generally stay below the resistance level which is marked by the downwards intraday trend line.
How Do I Draw Trend-Lines for Intraday Gold - Down Trend-Line
How Do I Draw Downwards Trend-Lines for Intraday XAUUSD
How to Draw Trend-Lines for Intraday Gold on MetaTrader 4
The MetaTrader 4 platform software provides charting tools for drawing the trend lines on charts. To draw intraday trend lines on a chart, traders can use trend line drawing tool provided in MT4 software that is illustrated below.
How Do I Draw Trend-Lines for Intraday Gold on MT4
To draw trend-lines on a chart - just click the trend line plotting tool above in the MT4 technical analysis software and select point A where you want to begin drawing & then point B where you want the trend-line to touch. You also can right click on trend-line & on the trend-line properties option choose the option to extend its ray by ticking the "ray check box", if you do not want to extend the trend line, then untick this option in your MT4 software. You also can change other trend-line properties such as colour & width on this trend line property popup window of the trend-line properties. You can download MetaTrader 4 xauusd & learn how to draw trend lines with it.
