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 upward gold channel and as long as the xauusd price stays between these two channels the general gold upwards trend direction is intact and the xauusd price movement will continue being bullish.
Upward XAUUSD Channel Breakout Strategy - Upward XAUUSD Channel Breakout MetaTrader 4 Channel Indicator
Trading the XAUUSD Channel Breakout Strategy
The upwards gold channel is used by xauusd 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.
MetaTrader 4 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 gold tool bar if it is not activated on your MetaTrader 4 platform, Click in "View" Next to "File" at the top left corner of the MetaTrader 4 platform and click View, Then Click on Tool bars, Then Check the "Lines Toolbar" by clicking on it.
Below is an example of the MetaTrader 4 drawing tool bar. To draw a gold channel on a gold chart just click on this MetaTrader 4 gold channel drawing tool and select the point where you want to draw the gold channel.
MetaTrader 4 Gold Tools for Drawing Gold Channels - XAUUSD Channel Breakout Strategies
How to Draw a XAUUSD Downward 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 the xauusd price stays between these two 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 Indicator
Trading the Downward XAUUSD Channel Breakout Strategy
The downwards gold channel is used by xauusd traders to show levels where the xauusd 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 MetaTrader 4 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 gold tool bar if it is not activated on your MetaTrader 4 Gold Trading Platform, Click in "View" Next to "File" at the top left corner of the MetaTrader 4 Gold Trading Platform and click View, Then Click on Tool bars, Then Check the Lines Toolbar by clicking on it.
Below is an example of these MetaTrader 4 channels drawing tools: just click on this MetaTrader 4 gold channels drawing tool and select the xauusd chart points to where you want to place this gold channels indicator on the xauusd chart.
MetaTrader 4 Technical Analysis Charts - Downward XAUUSD Channel Breakout Strategies
MetaTrader 4 Tools for Drawing Gold Channels - Downward XAUUSD Channel Breakout MetaTrader 4 Channel Indicator - Gold Channel Gold Trading Strategy - Technical Analysis Using XAUUSD Channels
MetaTrader 4 Toolbar - XAUUSD Channel Trading Strategy Guides PDF and Gold Channel Breakout Strategies used to obtain these gold channel drawing tools shown above, to draw these gold channels, just select the above MetaTrader 4 gold channel drawing tools shown on the MetaTrader 4 platform and select the two gold chart points where you want to draw the gold upward or gold downward channel.
XAUUSD Channel Breakout Strategy - Gold Channel Gold Trading Strategy - Technical Analysis Using XAUUSD Channel Breakout Strategies - How to Trade XAUUSD Channel Breakout Strategies
