Gold Price Action Setups in Trading
Gold Price action trading strategy is use of only gold price charts to trade XAUUSD, without the use of trade technical chart indicators.
When trading using this price action trading technique, candle-stick charts are used. This price action strategy uses lines & pre determined price action patterns such as the 1-2-3 gold price action pattern that either develops and forms one single price action pattern or series of price action setups.
Traders use this price action setup strategy because this price action analysis is very impartial & allows a gold trader to analyze the price moves depending on what they see on the price charts & market movement analysis alone.
Gold Price action strategy is used by many traders: even those who use indicators also integrate some form of price action strategy in their overall trade strategy.
Best use of this price action technique is achieved when trading signals generated are combined together with line studies to provide additional confirmation. These gold line studies include trend lines, Fib retracement, support and resistance zones.
Gold Price Action 1.2.3 Break Out Setup
This price action gold strategy uses 3 chart points to determine the break out direction of a price action.
The 1-2-3 gold price action trading technique uses a peak & a trough, these points forms point 1 & point 2, if the market price crosses above the peak the price action trading signal is long, if price action drops below the trough the price action trading signal is to short. The price action break out of point 1 or point 2 it it forms the third point.
What is Price Action Strategy? - Price Action Setups in Trading
Series of price action break outs
What is Price Action 1.2.3 Method? - 1-2-3 Price Action Pattern Setups in Trading
Learn More Topics and Tutorials:
- How to Download Install and Sign In on MT4 for Windows PC Computer for Mac PC for Android App & iPhone App
- Buy Entry Limit Order and Sell Entry Limit Order
- Can You Trade Without XAU USD Leverage?
- Templates on the Charts Menu in the MT4 Trading Platform
- Where Can You Get a XAU USD Tutorial Guide?
- Rate of Change Explained with Example
