Gold Price Action Setups in Gold 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 one price action pattern or series of price action setups.
Traders use this price action setup strategy because this price action analysis is very objective & allows a gold trader to analyze 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 that 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 with line studies to provide extra confirmation. These gold line studies include trend lines, Fib retracement, support & resistance zones.
Gold Price Action 1.2.3 Break Out Setup
This price action gold strategy uses Three chart points to determine the break out direction of a price action.
The 1-2-3 xauusd price action trading technique uses a peak & a trough, these points forms point 1 & point 2, if market price goes above the peak the price action signal is long, if price action drops below the trough the price action signal is to short. The price action break out of point 1 or point 2 forms the third point.
What is Price Action Strategy? - Price Action Setups in Gold Trading
Series of price action break outs
What is Price Action 1.2.3 Method? - 1-2-3 Price Action Patterns in Gold Trading
Learn More Topics & Lessons:
- How to Download Install & Login on MT4 for Windows PC for MacBook PC for Android App & iPhone Trading App
- Buy Entry Limit Order & Sell Entry Limit Order
- Can You Trade Gold Without XAU/USD Leverage?
- Templates on the Charts Menu in the MT4 Trading Software
- Where Can You Find a XAU USD Tutorial?
- Rate of Change Technical Indicator Explained
