How Do I Read Resistance and Support Technical Analysis using Gold Pivot Points?
How Do I Read Resistance and Support Levels using XAUUSD Pivot Points?
Traders wanting to trade using Gold support and resistance technical analysis levels can use Gold Pivot Points indicator which is used by Gold technical traders to calculate Resistance Zones as well as Support Areas for the Gold price.
Gold Pivot points will calculate 3 Support Areas below the current Gold price & 3 Resistance Levels above the current Gold price.
Traders can use Gold Pivot Points indicator to find where these Resistance and Support Levels are - and then use these Resistance and Support Levels to open their Gold trades or close their Gold trades depending on the Gold signals generated by their trading system.
The pivot points gold technical indicator is made up of a central pivot-point which is surrounded by Three resistance technical analysis levels above & Three support technical level in Gold below
Resistance Level 3
Resistance Level 2
Resistance Level 1
Pivot Point
Support Level 1
Support Level 2
Support Level 3
How Do You Interpret Gold Resistance and Support Levels using Gold Pivot Points?
Support Levels using Gold Pivot Points
Support Levels in Gold Pivot Points are used to generate buy Gold signals
Buy Gold signal - when Gold price moves downward toward one of the pivot points support technical level in Gold Trading, then touches the support technical level in Gold or moves slightly through the support technical level in Gold then quickly reverses and moves upwards.
Resistance Levels using XAUUSD Pivot Points
Resistance Levels in Gold Pivot Points are used to generate sell Gold signals
Sell Gold signal - when Gold price moves up towards one of the pivot-points resistance technical analysis level, then touches resistance technical analysis level or moves just slightly through the resistance technical analysis level then quickly reverses and moves downwards.
Support Levels in Gold Pivot Points are used to generate buy Gold signals
How Do You Interpret Gold Resistance and Support Levels using Gold Pivot Points?
