Upward XAUUSD Channel Breakout Strategy
A gold upward channel is drawn by drawing a gold channel using the MetaTrader 4 Gold Channel indicator. This then forms an upwards gold channel and as long as price stays between these 2 channels the general gold upwards trend direction is intact and the xauusd price movement will continue being bullish.
Upwards XAUUSD Channel Breakout Strategy - Upward XAUUSD Channel Breakout MetaTrader 4 Channel Technical Indicator
Trading the XAUUSD Channel Breakout Strategy
The upwards gold channel is used by traders to show the levels where xauusd price should move within and also the levels where it is best to take profits. Traders will take profit and close open gold orders once the xauusd price touches the upper channel and wait for another xauusd price retracement before opening a buy gold trade again.
MT4 Tools for Drawing Gold Channels
The XAUUSD MetaTrader 4 Channel Indicator drawing tools to draw these gold channels setups on the MetaTrader 4 platform are located on the MetaTrader 4 drawing tool bar within the MetaTrader 4 platform, To access this MetaTrader 4 tool bar if it is not activated on your MT4 platform, Click in "View" Next to the "File" menu at top left corner of MT4 platform and click View, Then Click on Toolbars, Then Check the "Lines Tool Bar" by clicking on it.
Below is example of the MT4 drawing tool bar. To draw a channel on a gold chart click on this MetaTrader 4 gold channel drawing tool and select the point where you want to plot the gold channel.
MetaTrader 4 Gold Tools for Drawing Gold Channels - XAUUSD Channel Break out Strategies
How to Draw a XAUUSD Downwards Channel
A gold downward channel is drawn by drawing a gold channel using the MetaTrader 4 Gold Channel indicator. This then forms a downward gold channel and as long as price stays between these 2 channels the general gold downwards trend direction is intact and the xauusd price movement will continue being bearish.
How to Draw a Downwards Gold Channel - Downward Gold Channel Breakout Strategy MetaTrader 4 Channel Technical Indicator
Trading the Downwards XAUUSD Channel Breakout Strategy
The downwards gold channel is used by traders to show levels where the price should move within and levels where it is best to take profits. Traders will take profit once the xauusd price touches the lower gold channel and wait for another gold retracement before opening a sell gold trade again.
MT4 Tools for Drawing XAUUSD Channels
The MT4 gold tools to draw these gold channels on the MetaTrader 4 xauusd charts can be found on the Lines Toolbar within the MetaTrader 4 platform, to access this MetaTrader 4 tool bar if it is not activated on your MetaTrader 4 Gold Platform, Click in "View" Next to "File" at the tops left corner of the MT4 Gold Trading Platform & click View, Then Click on Toolbars, Then Check the Lines Toolbar by clicking on it.
Below is example of these MetaTrader 4 channels drawing tools: just click on this MetaTrader 4 gold channels drawing tool and select the chart points to where you want to place this gold channels indicator on the xauusd chart.
MT4 Technical Analysis Charts - Downwards XAUUSD Channel Break out Strategies
MetaTrader 4 Tools for Drawing Gold Channels - Downward XAUUSD Channel Breakout MetaTrader 4 Channel Indicator - Gold Channel Gold Strategy - Technical Analysis Using XAUUSD Channels
MT4 Toolbar - XAUUSD Channel Strategy Guides Tutorial & Gold Channel Breakout Strategies used to obtain these gold channel plotting tools shown above, to plot these gold channels, just select the above MetaTrader 4 gold channel drawing tools shown on the MetaTrader 4 platform & choose the two chart points where you want to plot the gold upward or gold downward channel.
XAUUSD Channel Breakout Strategy - Gold Channel Gold Strategy - Technical Analysis Using XAUUSD Channel Breakout Strategies - How to Trade XAUUSD Channel Break out Strategies
