Gold Triangle Breakout Indicator

With Gold Triangle Breakout Gold Chart Pattern the xauusd market price breakout can move in any direction.

Triangle XAUUSD Chart Patterns

Symmetrical triangles are xauusd chart patterns with converging trend lines that form a consolidation period of the xauusd price. The technical analysis buy gold signal from a symmetrical triangle is the upside xauusd price breakout, while a downside xauusd price breakout is a technical sell gold signal. Ideally the gold market breaks out from a triangle xauusd chart pattern - symmetrical triangle prior to reaching the apex of the triangle.

Gold Trend Lines can be drawn connecting the lows and highs of the triangle xauusd chart pattern phase, the gold trend lines formed are symmetric and converge to form an apex - gold triangle pattern. A Gold Triangle Breakout should occur somewhere between 60-80% into the gold triangle xauusd chart pattern. An early or late Gold Triangle Breakout is more prone to whipsaw gold signals, and therefore less reliable. After a xauusd price breakout the apex of the gold triangle forms support and resistance levels for the xauusd price. Gold price that has broken out of the apex should not retrace past the apex of the gold triangle xauusd chart pattern. The apex of the triangle xauusd chart pattern is used as a stop loss gold order setting area for the open xauusd trades.

When these gold triangle xauusd chart patterns form we say that the gold market trend is taking a break before deciding the next direction to move.

These gold triangle xauusd chart patterns form when there is a tug of war between the buyers and the sellers and the xauusd market cannot decide which way to move.

Gold Triangle Breakout XAUUSD Chart Pattern - XAUUSD Triangle Breakout Technical Indicator - Gold Triangle Gold Chart Pattern Gold Trading

However, this gold triangle xauusd chart pattern cannot go on forever and just like in a tug of war one side eventually wins, looking at the XAUUSD chart below see how the triangle eventually had a gold breakout and moved in one direction - Gold Triangle Breakout Gold Chart Pattern. Now how do you make sure you choose the winning side?

Gold Triangle Breakout Indicator MT4 - Triangle Indicator XAUUSD - Gold Triangle Indicator MetaTrader 4 - Gold Triangle Gold Chart Pattern Gold Trading

Gold Triangle Breakout XAUUSD Chart Pattern - Gold Triangle Breakout Indicator - Gold Triangle Breakout Indicator MetaTrader 4

Now back to our gold question, how do we make sure we are on the winning side of the trade?

Well we wait until the xauusd price moves past one of the trend lines of the gold triangle pattern and put buy gold orders or sell gold orders in that direction. If xauusd price gold breaks the upper triangle line we buy, if it xauusd price breaks the lower triangle line we sell.

Alternatively if you do not want to wait for a gold triangle gold breakout - you can use gold ending orders.