How Do You Draw Gold Trendlines for Intraday Gold?
How to Draw XAUUSD Trend Lines for Intraday XAUUSD
Example 1: How to Draw Upwards XAUUSD Trend Lines for Intraday XAUUSD
To draw an upward xauusd trend-line on a xauusd chart use two support points in a bullish upwards xauusd trend so that to draw the upwards trend line and then extend the trend line as illustrated and shown below. The upward xauusd trend-line on a xauusd chart will show the general direction of gold prices & as long as trading price is above this upwards trend line then the upwards trend will remain intact - bullish up gold trend.
If gold trading prices move below the intraday xauusd upward trend line which is the support level for the bullish upwards xauusd trend then gold traders should close all their open gold trades - because this might be a xauusd trend reversal trading signal. In an upwards xauusd trend gold trading price should generally stay above the support area which is marked by the upwards intraday xauusd trend line.
How to Draw XAUUSD Trend Lines for Intraday Gold - Up XAUUSD Trend Line
How to Draw Upward XAUUSD Trend Lines for Intraday XAUUSD
Examples 2: How to Draw Downwards XAUUSD Trend Lines for Intraday XAUUSD
To draw a downward intraday xauusd trend-line on a xauusd chart use two resistance points in a bearish downwards xauusd trend so as to draw the downwards xauusd trend line & then extend the trend line as shown below. The downward xauusd trend-line on a xauusd chart will show the general direction of gold prices & as long as trading price is below this downwards trend line then the downwards intraday xauusd trend will remain intact - bearish down gold trend.
If gold trading prices move above the downwards xauusd trend line which is the resistance level for the bearish downwards xauusd trend then traders should close all their open gold trades - because this might be a xauusd trend reversal trading signal. In an downward xauusd trend gold trading price should generally stay below the resistance level which is marked by the downwards intraday xauusd trend line.
How to Draw XAUUSD Trend Lines for Intraday Gold - Down XAUUSD Trend Line
How to Draw Downward XAUUSD Trend Lines for Intraday XAUUSD
How to Draw XAUUSD Trend Lines for Intraday Gold on MetaTrader 4
The MetaTrader 4 software provides charting tools for drawing the trend lines on gold charts. To draw intraday xauusd trend-lines on a xauusd chart, gold traders can use trend-line drawing tool provided in MT4 software that is shown below.
How to Draw XAUUSD Trend Lines for Intraday Gold on MetaTrader 4
To draw xauusd trend-lines on a xauusd chart - just click the trend-line plotting tool above in the MT4 technical analysis software and select point A where you want to start drawing and then point B where you want the trend line to touch. You can also right-click on trend line & on the xauusd trend line properties option select the option to extend its ray by ticking the "ray check box", if you do not want to extend the trendline, then uncheck this option in your Gold MT4 platform. You can also change other xauusd trend line properties such as color and width on this xauusd trend line property popup window of the trend line properties. You can download MT4 xauusd & learn how to draw xauusd trend-lines with it.
