Gold Indicators That Are Used for Taking Profit
XAUUSD Buy Sell Indicators & XAUUSD Trading Exit Indicators
Once gold traders have learned how to trade the xauusd market using xauusd trading analysis indicators that produce bullish gold trading signals or bearish gold trading signals based on a combination of gold trend following technical indicators & gold trend confirmation indicators then gold traders need to know more about the gold indicators that can be used to determine where to place take profit levels and exit open xauusd trades - Gold Trading Exit Indicators. These Gold Trading Exit Indicators will be used to calculate where to place a take profit level for a trade - after a trade has been opened. These indicators can also be used by EA traders to Program Auto Stop Loss Gold Order & Take Profit Gold Order EA MetaTrader 4 - Auto Stop Loss Gold Order & Take Profit Gold Order Expert Advisor MT4.
There are many types of gold indicators that can be used as Gold Trading Exit Indicators to determine where to take profit. A trader needs to know these indicators so as to know when to take profit and close an open trade.
How to Analyze The Market To Know Where to Take Profit XAUUSD Order
Before learning about the various gold take profit indicators available in the xauusd market and on the MT4 platform, gold traders need to know about overbought & oversold levels.
These overbought and oversold levels are used as gold profit taking levels and this overbought and oversold gold market analysis will be used to analyze when to close open xauusd trades.
Overbought Level - overbought levels on gold indicators is when price is above the 80 mark for gold indicators such as RSI indicator & Stochastic Oscillator. A trader will close open buy xauusd trades once the gold indicator is in the overbought region. The trader will not close the open gold trade immediately after the gold indicator is overbought but when the gold indicator leaves this overbought level and moves back below the 80 mark.
Oversold Level - Oversold levels in gold trading is when price is below the 20 mark for gold indicators such as RSI technical indicator & Stochastic Oscillator. A trader will close open sell xauusd trades once the gold indicator is in the oversold region. The trader will not close the open gold trade immediately after the gold indicator is oversold but when the gold indicator leaves this oversold level and moves back above the 20 mark.
Gold Indicators Tutorial
Bollinger Bands Technical Indicator - a trader will use the upper Bollinger bands and lower Bollinger bands to determine the levels where they can set their take profit levels for their open xauusd trades.
Parabolic SAR - Parabolic SAR indicator is a gold trend following indicator that draws dots below the xauusd price in an upwards gold trend and draws dots above the xauusd price in downwards trend. These dots trail the xauusd trading price - in an upward gold trend these dots trail the upward trend below the gold trend and can be used to set where to close a buy gold trade - Gold Trading Exit Indicators. In a downward gold trend these dots trail above the xauusd price & can be used to know when to close open sell xauusd trades.
XAUUSD Trading Fib Expansion - Fibonacci expansion indicator is used to calculate where to set taking profit levels, xauusd traders can use this Fibonacci expansion indicator to set their take profit levels.
Traders can learn more about the Fib expansion technical indicator from the learn gold trading lessons section, while the Bollinger bands indicator is explained on the learn gold indicators & learn gold trading strategies section, Parabolic SAR indicator tutorial can be found on the learn gold indicators section.
