XAUUSD Technical Analysis for Beginner Traders
XAUUSD Trend Line
A xauusd trend line can be an upward xauusd trendline or a downwards xauusd trend line.
An up xauusd trend-line is plotted by connecting 2 lows & the gold price lows are connected using straight line. This straight line shows that gold prices are heading upwards because this xauusd trend line slopes upward - hence its name upwards xauusd trend line. XAUUSD traders then use this xauusd trendline as a support zone of the gold price. New buy gold trades are opened once the gold price touches the upwards trend line.
A down xauusd trend-line is plotted by connecting 2 highs & the gold price highs are connected using a straight line. This straight line shows that the gold prices are heading downwards because this xauusd trend line slopes downwards - hence its name downward xauusd trend line. XAUUSD traders then use this xauusd trend line as a resistance zone of the gold price. New sell gold trades are opened once the gold price touches the downwards xauusd trend line.
Tutorial: How to Draw & Trade Upwards XAUUSD Trendline - XAUUSD Technical Analysis for Beginners
How Do I Interpret a XAUUSD Trend with a XAUUSD Trend Line? - XAUUSD Technical Analysis for Beginner Traders
Tutorial: How to Draw and Trade Downward XAUUSD Trend-Line - XAUUSD Technical Analysis for Beginners
XAUUSD Analysis of XAUUSD Trend-Lines - Trend Line Gold - XAUUSD Analysis of XAUUSD Trend Lines
