What is Gold Chart Pattern Breakout Gold Chart Patterns?
Trading XAUUSD Identify a XAUUSD Chart Pattern Break out Pattern in XAUUSD Trading
The Best Trading Patterns Tutorial for Beginner Traders - How to Identify and Trade Gold Chart Pattern Breakout Gold Chart Pattern
Gold Patterns for Day Trading - Gold Patterns Tutorial
This Gold Chart Pattern Breakout trading patterns charts guide explains how to identify xauusd patterns - identifying xauusd patterns is the first step when it comes to learning how to trade with Gold Chart Pattern Breakout xauusd chart patterns in Gold.
Gold Chart Pattern Breakout xauusd price patterns commonly form on Gold Trading charts & this chart pattern analysis tutorial explains how to trade & analyze gold charts using Gold Chart Pattern Breakout xauusd trading patterns.
XAUUSD Pattern Breakout
The consolidation chart pattern cannot go on forever and just like in a tug of war one side eventually wins, looking at gold chart below see how the consolidation chart pattern eventually had a break out & moved in one direction. Now how do we as xauusd traders make sure that we are on the side that is winning?
Gold Chart Pattern Breakout Downward Sell Gold Signal after a Consolidation Pattern
Gold Chart Pattern Breakout Upward Buy Gold Signal after a Consolidation Pattern
Now back to our question, how do we make sure we are on side that is winning?
Well we wait until xauusd price moves past one of the consolidation pattern lines & put buy or sell gold orders in that direction. After consolidating, If xauusd price breaks the upper line we buy, if it breaks out the lower line we sell.
Alternatively if you do not want to wait out the consolidation pattern, you can use pending gold orders. If you would like to know more about pending gold orders go to the topic: Gold Trading Stop Entry Gold Order Types
The two types of gold trading stop order types used to trade consolidation patterns are:
- Buy Entry Stop An order to buy at a level above xauusd price - after an upward xauusd price breakout.
- Sell Entry Stop An order to sell at a level below xauusd price - after a downwards xauusd price breakout.
These are gold orders to buy above the xauusd market or to sell below the xauusd trading market.
