How Do I Draw Gold Trend Lines for Intraday XAUUSD Trading?
How to Draw XAUUSD Trend Lines for Intraday XAUUSD Trading
Example 1: How to Draw Upwards XAUUSD Trend Lines for Intraday XAUUSD Trading
To draw an upwards gold trendline on a gold chart use 2 support points in a bullish upward gold trend so as to plot the upward trend line & then extend the trend line as shown below. Upward gold trendline on a gold chart will show the general direction of xauusd trading prices & as long as trading price is above this upward trend line then the upward trend will remain intact - bullish up xauusd trend.
If xauusd trading prices move below the intraday upward trend line which is the support level for the bullish upward gold trend then xauusd traders should close all their open xauusd trades - because this might be a gold trend reversal signal. In an upwards gold trend xauusd trading price should generally stay above the support area which is marked by the upwards intraday gold trend line.
How to Draw Gold Trend Lines for Intraday Gold Trading - Up Gold Trend Line
How to Draw Upward Gold Trend Lines for Intraday Gold Trading
Example 2: How to Draw Downwards XAUUSD Trend Lines for Intraday XAUUSD Trading
To draw a downward intraday gold trendline on a gold chart use 2 resistance points in a bearish downward gold trend so as to plot the downwards gold trend line & then extend the trend line as illustrated below. The downwards gold trendline on a gold chart will show the general direction of xauusd trading prices & as long as trading price is below this downwards trend line then the downwards intraday gold trend will remain intact - bearish down xauusd trend.
If xauusd trading prices move above the downward gold trend line which is the resistance level for the bearish downwards gold trend then traders should close all their open xauusd trades - because this might be a gold trend reversal signal. In an downward gold trend xauusd trading price should generally stay below the resistance area which is marked by the downward intraday gold trend line.
How to Draw Gold Trend Lines for Intraday Gold Trading - Down Gold Trend Line
How to Draw Downward Gold Trend Lines for Intraday Gold Trading
How to Draw Gold Trend Lines for Intraday Gold Trading in MetaTrader 4
The MetaTrader 4 software provides charting tools for drawing the trend lines on gold charts. To draw intraday gold trendlines on a xauusd chart, xauusd traders can use the trendline drawing indicator tool provided on the MT4 software that is shown below.
How to Draw Gold Trend Lines for Intraday Gold on MT4
To draw gold trendlines on a gold chart - just click the trendline plotting tool above on the MT4 technical analysis software and select point A where you want to start drawing and then point B where you want the trend line to touch. You can also right click on trend line & on the gold trend line properties option select the option to extend its ray by ticking the "ray check box", if you do not want to extend the trend-line, then uncheck this option in your MetaTrader 4 platform. You can also change other gold trend line properties such as color and width on this gold trend line property popup window of the trend line properties. You can download MT4 xauusd trading & learn how to draw gold trend-lines with it.
