Swing Trading Pivot Points Gold Technical Analysis & Swing Trading Pivot Points Trading Signals
Pivot Points XAUUSD Indicator consists of a central pivot which is surrounded by 3 resistance areas above and Three support areas below the center pivot.
Pivot Points XAUUSD Technical Indicator is considered to be leading technical indicator.
Pivot Points Gold Indicator provides a quick method for traders to analyze the general gold market trend and analyze how the xauusd market is going to be moving during the day. A few calculations are used to plot the resistance & support levels for the pivot point indicator.
To calculate these support & resistance levels for the coming trading day - the previous day's
- high,
- low, and
- closing xauusd prices are used
The gold trading day closes & this daily closing time is when the Pivot Points XAUUSD Indicator is updated.
The 24-hour cycle for this Pivot Points Gold Indicator are calculated using a complex formula - the central pivot is then used to calculate the support & resistance levels as follows:
Resistance 3
Resistance 2
Resistance 1
Swing Trading Pivot Point Technical Analysis
Support 1
Support 2
Support 3
Technical Analysis in XAUUSD Trading
Pivot Points Gold Indicator can be used in different techniques to generate trading signals. Following strategies are the most oftenly used technical analysis strategies:
Pivot Points Gold Technical Indicator Trend Identification
The central pivot point is used by traders to determine the gold trend direction. The xauusd trades opened by traders will only be in direction of this xauusd trend.
- Buy gold signal - bullish gold trend -price is above the central pivot point
- Sell gold signal - bearish gold trend -price is below the central pivot point
Pivot Points Gold Indicator Price Break-out Signals
Gold price break-out trading signals are generated as follows
- Buy gold signal is generated when the price breaks upwards through the center pivot point.
- Sell gold signal is generated when the price breaks downward through the center pivot point.
Pivot Points Gold Indicator Price Break out
Pivot Points Gold Indicator Price Reversal Trading Signal
Pivot Points Gold Indicator Price reversal xauusd signals are generated as is described below
Buy xauusd signal - when price moves downwards toward one of the pivots indicator support area, then touches the support zones or moves slightly through this support level then quickly reverses & moves upward.
Sell xauusd signal - when price heading up toward one of the pivot-point resistance area, then touches resistance area or moves slightly through this resistance level then quickly reverses and moves downward.
Pivot Points Gold Indicator Price Reversal Trading Signal
Setting Stop-loss and Take Profit Gold Order Levels
The central pivot-point & the other support levels & resistance levels of this pivot points indicator are used by traders to determine suitable gold stop loss setting levels and gold take profit levels.
Setting Stop Loss Gold Order Levels and Setting Take Profit Gold Order Levels
If a buy order is placed above the central pivot point the Resistance 1 or Resistance 2 can be used to set the take profit level, and the Support 1 can be used to set the Stop Loss Gold Order Level for the xauusd trade transaction.
To download Swing Trading Pivot Points Gold Indicator: https://c.mql5.com/21/9/pro4x_pivot_lines.mq4 Once you download the Pivot Points Technical XAUUSD Indicator - open the indicator with MQL4 Language Editor, Then Compile Pivot Points Gold Indicator by pressing the Compile Button and Pivot Points Gold Indicator will be added to your MetaTrader 4 platform. NB: Once you add Pivot Points Gold Indicator to your MetaTrader 4, the indicator has additional lines named Mid Points, to remove these additional Pivot Points Gold Indicator lines open MQL4 Language Editor(shortcut keyboard key - press F4), and change line 16 from: extern bool midpivots = true: to extern bool midpivots = false: Then Press Compile again, and Pivot Points Gold Indicator will then appear as exactly shown on this website.
