Trendline Gold PDF - Gold Trendline Indicator MT4
Trading Upward XAUUSD Trend
Traders should use the upwards gold trendline to open buy xauusd trades once the xauusd price tests the upward trend line.
Upwards Gold Trend - Gold Trend Lines Tools - Gold Trend Line Indicator MT4 - Trendline Trading Gold Strategy
Trading Downward XAUUSD Trend
Traders should use the downwards gold trendline to open sell xauusd trades once the xauusd price tests the downward gold trend line.
Upwards Gold Trend - Gold Trend Lines Tools - Gold Trend Line Indicator MT4 - Trendline Trading Gold Strategy
How to Use Trendlines Signals to Trade Gold
The trend is your friend. Is a popular saying among gold traders because as a trader you should never go against the xauusd trend. Gold trend is the most reliable gold strategy used to trade gold because once the prices start to move in one direction they can move in that direction for quite some time within the trend - therefore using this trend trading strategy gives gold traders the opportunity to make profits from the online xauusd market.
To identify a gold trend - traders use gold trendlines. Gold trendlines are provided on the MetaTrader 4 xauusd charts and traders can use these trendline drawing tools on the MetaTrader 4 platform to draw gold trendlines on xauusd charts.
Traders can then analyze gold trends on the xauusd charts using these trendlines.
Guidelines of How to Draw XAUUSD Trendlines on XAUUSD Charts
Use candlestick charts to draw gold trendlines
- The chart points used to draw the trendlines - upward gold trendlines are along the lows of the xauusd price candlestick bars in a bullish gold trend. An upward bullish gold trend is defined by higher highs and higher lows of the xauusd price.
- The chart points used to draw the trendline - downward gold trendlines are along the highs of the xauusd price bars in a bearish gold trend. A bearish downward gold trend is defined by lower highs & lower lows of the xauusd price.
- The chart points used to draw the trendlines are extremes points - the high or the low xauusd price. These extreme xauusd price points are considered important because a xauusd price close beyond the extreme tells gold traders the gold trend might be reversing. This is an entry or an exit xauusd trading signal.
- The more often a gold trendline is tested by xauusd price but it's not broken, then the more powerful the gold trend signal.
