How to Draw Channels Gold Trading
There are two different types of gold Channels - upward gold trend line and downward Channels. The gold trading step by step technique of how to draw gold Channels for upward and downward gold trends is explained below:
How to Draw Channels XAUUSD Trading on Gold Charts
An upwards gold channel is drawn by drawing a line that is parallel to the upward trend line & then adjusted to touch the tops boundary of the xauusd price movement. This then forms a channel and as long as the price stays between these two trend channels the bullish upward market movement will continue heading upwards.
How to Draw Channels Gold Trading on XAUUSD Charts - How to Draw Gold Up Ward Channels
How to Draw Channels XAUUSD Trading on Gold Charts
A downwards gold channel is drawn by drawing a line that is parallel to the downwards gold trendline & then adjusting it to touch the bottoms boundary of the xauusd price movement. This then forms a downward gold channel and as long as price stays between these 2 channels the general gold market trend direction is intact the xauusd market trend direction will continue being bearish.
How to Draw Channels Gold Trading on XAUUSD Charts - How to Draw Gold Trading Down Ward Channels
How to Draw Channels XAUUSD Trading on Gold Charts
To draw Gold Channels on MetaTrader 4 XAUUSD Charts use MetaTrader 4 Charts Drawing Tools for Drawing Gold Channels on MetaTrader 4 XAUUSD Charts
The MetaTrader 4 gold Channels drawing tools used to draw these gold Channels setups on the MT4 are located on the MT4 drawing charts tool bar within MT4 gold charts, To access this MT4 charts toolbar if it is not activated on your trading platform, Click in 'View' Next to 'File' menu at tops left corner of MT4 software & click 'View', Then Click on 'Tool Bars' button key, Then Check 'Lines Tool-bar' by clicking on it.
Shown Below is examples of MetaTrader 4 Channels drawing charts toolbar. To draw Gold Channels on a gold charts just click on this Channels drawing tool & choose the point where you want to plot the upward Gold Channels or downward gold Channels.
How to Draw Gold Channels on XAUUSD Charts on MetaTrader 4 Gold Charts
