Gold Triangle Breakout Indicator

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

Triangle 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 signal from a symmetrical triangle is the upside xauusd price breakout, while a downside xauusd price break-out is a technical sell signal. Ideally the gold market breaks out from a triangle 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 chart pattern phase, the 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 pattern. An early or late Gold Triangle Breakout is more prone to whipsaw signals, and therefore less reliable. After a xauusd price breakout the apex of the triangle forms support and resistance levels for the xauusd price. Gold price that has broken out of the apex should not retrace past apex of the triangle chart pattern. The apex of the triangle chart pattern is used as a stop loss order setting area for the open xauusd trades.

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

These gold triangle patterns form when there is a tug of war between the buyers & the sellers & the xauusd market can't decide which way to move.

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

However, this gold triangle 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 Chart Pattern. Now how do you make sure you choose winning side?

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

Gold Triangle Breakout XAUUSD 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 trendlines of the gold triangle pattern and put buy orders or sell 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 don't want to wait for a triangle gold breakout - you can use gold ending orders.