RSI Gold Trading Indicator Gold Trading Chart Patterns and Gold Trading Trend Lines
Gold traders can draw gold trading trend lines on the RSI in the same way as you can draw gold trading trend lines on the gold trading price charts. RSI gold trading trend lines are drawn the same way gold trading trend lines are drawn on the gold trading chart; by joining consecutive highs of the RSI gold trading indicator or consecutive lows on the RSI gold trading Indicator.
RSI Gold Trading Trend Lines and Gold Trend lines on Gold Trading Charts
RSI Gold Trading Chart Patterns in Gold Trading
RSI Chart patterns such as head and shoulders gold trading chart patterns or triangle gold trading chart patterns that are not evident on the gold trading price chart are often formed on this RSI gold trading indicator.
RSI gold trading indicator also often forms gold trading chart patterns such as head and shoulders or triangles gold trading chart patterns that may or may not be visible on the gold trading price chart. As shown on the gold trading chart below the XAUUSD Reverse Head and Shoulders reversal formation is clearly shown on this gold trading RSI indicator.
Gold Trading Chart Patterns on RSI Gold Trading Chart Indicator
Support and Resistance Levels Trading using RSI Gold Trading Indicator
Sometimes gold trading chart levels of support and resistance levels are demonstrated better on the RSI indicator than on the gold trading price chart.
In an upward gold trading market trend the support levels should not be broken at any one time, if they are broken then gold price will also break the support levels and the upward gold trading trend is going to reverse.
In a downward gold trading trend the resistance levels should not be broken, if they are broken then gold price will also break the resistance levels, and the downward gold trading trend is going to reverse.
Support and Resistance Levels on RSI Gold Trading Indicator
In the gold trading example above when the third resistance level was broken the downward gold trading trend reversed to an upward gold trading trend and when the sixth support was broken the upward gold trading market gold trading trend reversed and broke the upward gold trading trend line.