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

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

XAUUSD Price Action Trading System in XAUUSD Trading

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

The gold trading system includes xauusd price action trading together with gold indicators trading so as to come up with 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 XAUUSD Trading Strategy

This xauusd 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 and point 2, if market moves above the peak the signal is long, if it moves below the trough the 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 Trading Strategy - Gold Price Action Trading System in Gold Trading

As with any other gold trading strategy this xauusd price action trading strategy should also be combined with other gold indicators to confirm the xauusd price action signals and avoid whipsaws. The 1-2-3 xauusd 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 price action strategy.

Combining XAUUSD Price Action Strategy with other Indicators

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

• RSI

• Moving Average

xauusd traders should use these two gold indicators to confirm if the direction of breakout xauusd 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 gold indicators then xauusd traders can open a trade in the direction of the xauusd price action signal.

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

Just like any other chart indicator in Gold Trading, xauusd price action also has whipsaws and there is a requirement to use this xauusd 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 Trading Strategy - Gold Price Action Trading System in Gold Trading