XAUUSD Technical Analysis for Beginners
XAUUSD Trend Line
A xauusd trend line can be an upward xauusd trend line or a downward xauusd trend line.
An up xauusd trend line is drawn by connecting two lows and the gold price lows are connected using a straight line. This straight line shows that the gold prices are moving upwards because this xauusd trend line slopes upwards - hence its name upward xauusd trend line. XAUUSD traders then use this xauusd trend line as the support level of the gold price. New buy gold trades are opened once the gold price touches the upward trend line.
A down xauusd trend line is drawn by connecting two highs and the gold price highs are connected using a straight line. This straight line shows that the gold prices are moving downwards because this xauusd trend line slopes downwards - hence its name downward xauusd trend line. XAUUSD traders then use this xauusd trend line as the resistance level of the gold price. New sell gold trades are opened once the gold price touches the downward xauusd trend line.
Tutorial: How to Draw and Trade Upward XAUUSD Trendline - XAUUSD Technical Analysis for Beginners
How Do You Interpret a XAUUSD Trend with a XAUUSD Trend Line? - XAUUSD Technical Analysis for Beginners
Tutorial: How to Draw and Trade Downward XAUUSD Trend Line - XAUUSD Technical Analysis for Beginners
XAUUSD Technical Analysis of XAUUSD Trend Lines - Trend Line Gold - XAUUSD Technical Analysis of XAUUSD Trend Lines
