Gold Price Action 1-2-3 Gold Price Action Trading Strategy

Gold Price action gold trading is the use of only xauusd trading price charts to trade Gold, without the use of technical chart technical indicators. When trading with this xauusd trading price action strategy, candlestick charts are used.

XAUUSD Price Action Trading System in XAUUSD Trading

The best use of this xauusd trading price action strategy is achieved when the price action trading signals generated are combined with other indicators so as to provide extra confirmation. This is then used a xauusd trading system.

The gold trading system includes xauusd trading price action trading together with gold indicators trading so as to create a gold trading system or a gold trading strategy based on these two methods of xauusd trading analysis.

XAUUSD Price Action 1-2-3 Breakout Strategy

This xauusd trading price action trading strategy uses three chart points to determine the break out direction of gold. The 1-2-3 xauusd price action strategy uses a peak and a trough, these points forms point 1 & point 2, if market moves above the peak the signal is long, if it moves below the trough the trading signal is to short. The break out of point 1 or point 2 forms the third point.

Gold Price Action 1-2-3 Gold Price Action Strategy - Gold Price Action Trading System in Gold Trading

As with any other gold trading strategy this xauusd trading price action trading strategy should also be combined with other indicators to confirm the xauusd trading price action signals and avoid whipsaws. The 1-2-3 xauusd trading price action trading pattern can give good gold trading signals in a trending market but will give whipsaws when the xauusd market is ranging, it is best to determine if the xauusd market is trending or not before you start using this xauusd trading price action strategy.

Combining XAUUSD Price Action Strategy with other Indicators

Good gold indicators to combine xauusd trading price action trading with are:

• RSI

• Moving Average Indicator

Xauusd traders should use these two gold indicators to confirm if the direction of breakout xauusd trading price action signal is in line with the gold trend direction shown by these two gold chart indicators.

If the direction is also the same as those of these indicators then traders can open a trade in direction of the xauusd trading price action signal.

If not xauusd traders should not open a trade as there is more likely a chance that this xauusd trading price action signal may be a gold trading whipsaw.

Just like any other chart indicator in Gold Trading, xauusd trading price action also has whipsaws and there is a requirement to use this xauusd trading price action strategy with other indicators as a combination with other signals from these indicators as opposed to just using this xauusd price action strategy alone.

Gold Price Action Gold Strategy - Gold Price Action Trading System in Gold Trading