What Patterns are used?
Most Traders use the patterns to try and find the direction of the trend.
There are Three main categories of chart patterns - Continuation Patterns, Consolidation Patterns & Reversal Patterns.
Each category contains other patterns, all of which have various types of chart analyses.
The most common gold patterns used in gold trading are:
Continuation Patterns
Chart Formations Known as Descending Triangles
Recognizing and Utilizing Bear Flag Chart Setups
Consolidation XAUUSD Patterns
Recognizing and Utilizing Consolidation Setups
Reversal Setups
Recognition of Head and Shoulders Patterns in Gold Trading
Reverse Head and Shoulders patterns in gold trading
Which patterns are utilized in Gold Trading? - An Overview of Nine Distinct XAUUSD Patterns with Illustrations.
Study More Lessons:
- Introduction To XAU/USD
- Whipsaws When Gold with MACD Indicator: How to Avoid Different Types of Fake Out XAU USD Signals
- Guide of How to Understand Double Bottoms Pattern in Trade
- A Guide to Using MetaTrader 4 for Trading Gold
- How Can I Trade MetaTrader 4 Downward XAUUSD Trend Line in MT4 Platform Software?
- How to Use XAUUSD Sell Limit Order on MT5 Platform Software
