XAUUSD Price Action Strategy with Support and Resistance XAUUSD Price Action Indicator
One of the strategies for gold price action is use of Pin-Bar. A pin-bar is a reversal gold price action trading signal on a xauusd chart which shows an obvious change in market sentiment during that period.
This pinbar candle has a long tail with the closing gold price near the open.
The pinbar candle looks like a pin thus the name Pin-Bar - occurs after an extended trend move upwards or downward.
How to Trade XAUUSD Price Action Pattern with Support and Resistance XAUUSD Price Action Indicator
This gold price action reversal xauusd signal is confirmed after market closes below the candle that precedes this gold price action pattern. Below the xauusd pin bar gold price action reversal xauusd pattern is confirmed after the xauusd market closes below the blue candle that preceded this gold price action pin-bar candlestick.
How to Trade XAUUSD Price Action Pattern with Support and Resistance XAUUSD Price Action Technical Indicator
Combining Pin Bar XAUUSD Price Action Pattern with Support and Resistance Lines:
This pin bar gold price action reversal xauusd signal can be combined with other xauusd line studies such as Support and Resistance levels which can be used together with this gold price action signal to generate buy or sell xauusd trade signals.
Support & Resistance Levels
A pin bar gold price action candle that forms after gold trade price hits an important support or resistance level can be used as a xauusd signal to enter the xauusd trading market. When a this gold price action reversal xauusd pattern forms the trades taken should be in the opposite direction of the tail of this gold price action candlestick.
If the xauusd market moves up this forms a pin bar candlestick with tall upper tail, then the xauusd signal is to open a sell gold trade transaction.
If the xauusd market moves down the forms a pin bar candlestick with tall lower tail, then the xauusd signal is to open a buy gold trade transaction.
XAUUSD Price Action Strategy with Support and Resistance XAUUSD Price Action Technical Indicator
