Examples of How to Know When a Gold Trading Down Trend is Starting
Course: Steps to Identify a Starting Downwards Gold Trend with Gold Trading Examples
Example of How to Know When a Gold Trading Down Trend is Starting
The gold trend is your friend. Is a popular saying among gold traders because you should never go against the gold trend when trading gold. This is the most reliable method to trade Gold Trading because once prices begin to move in one particular direction they can continue moving in that particular direction for quite some time - therefore using this trend trading technique presents opportunity to make profits from the Gold Trading market.
Principles of How to Draw Downwards XAUUSD Trend Lines
Use candlestick charts to draw gold trend lines
- The points used to draw the trend line - downward gold trendline are along the highs of the xauusd price bars in a bearish gold market. A downwards bearish gold trend is defined by lower highs & lower lows.
- The points used to draw the trend lines are extremes points - the high xauusd price. These extreme xauusd price points are important because a xauusd price close beyond the extreme tells traders the down gold trend might be changing. This is an exit xauusd trading signal.
- The more often a downwards gold trend line is hit but not broken, the more powerful its downwards trend signal.
