Best Trend Confirmation Indicator Gold

How to Draw Trend lines on MT4 Platform Software

The MetaTrader 4 software provides trend-line drawing tools for drawing the trend lines in MT4 charts. To draw a trend line on a chart in MT4 platform, traders can use MetaTrader 4 trend line drawing indicator tool provided on MT4 software that's shown & displayed in the illustration illustrated and explained below.

Best Trend Confirmation Indicator Gold

How to Draw Trendlines on MT4 Platform - No Nonsense Trend Line Indicator

To draw a trend line on a chart - just click MetaTrader 4 trend line plotting tool shown above on the MetaTrader 4 software & choose point A where you want to start & begin drawing the trend line & then point B where you want the trend line to touch. You also can right click in a trend-line and on the trend line properties option select the choice/option to extend the ray by ticking "ray check box", if you do not want to extend the trend line, then uncheck this option on your MetaTrader 4 software - trend-line properties. You also can adjust other trend line properties such as trendline color and trend line width on this trend line property pop up panel of the trend line properties. You can download MT4 software and learn how to draw a trend-line.

No Nonsense Trend Line Indicator

The two technical analysis strategies used to trade trend-lines are:

1. Gold Trendline Break
2. Trendline Bounce

trading analysis of these two trendline strategies is expounded in the illustrations below:

Best Trend Confirmation Indicator Gold - No Nonsense Confirmation Indicator

trend-line bounce - this is a trend continuation signal where price bounces from the trend line & continues heading in the same direction as that of the trend.

No Nonsense Trendline Indicator

• In a upwards trend the price will bounce & move upwards after hitting this upwards trendline level which is the support level.

XAUUSD Up-wards Trend - Trendline Bounce - Price Support Level Provided by the Upwards TrendLine

Upward Trend - Trendline Bounce Analysis - Best Trend Confirmation Indicator Gold

No Nonsense Trend Line Indicator

• In a downwards trend the price will bounce and move downwards after touching this downwards trend-line which is the resistance area.

XAUUSD Downwards Trend - Trendline Bounce after Touching Resistance Zone Provided by the Down-wards Trend Line

XAUUSD Downwards Trend - Trendline Bounce Analysis - Best Trend Confirmation Indicator Gold

Best Trend Confirmation Indicator Gold - No Nonsense Confirmation Indicator

trend-line break this is a trend reversal where the price goes through the trend line & begins to move in the direction in the opposite trend of ruling trend.

Analysis of Trendline Break

When a upwards trendline is broken then trend reverses and becomes bearish - starts heading downward

Upwards Trend Line Break - Best Trend Confirmation Indicator Gold

Analysis of Trend-Line Break

When a downwards trend line is broken then trend reverses and becomes bullish - starts moving upwards

XAUUSD Downward TrendLine Break - Best Trend Confirmation Indicator Gold

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