XAUUSD Guide of How to Draw Channels in XAUUSD
There are two types of xauusd Channels - upward xauusd trend line & downward Channels. The xauusd step by step procedure of how to draw xauusd Channels for upward and downward xauusd trends is described below:
Gold Up Ward Channels
An upward xauusd channel is plotted by drawing a line that's parallel to the upwards trendline and then adjusted to touch the top boundary of the gold price movement. This then forms a channel & as long as a price stays between these two trend channels the bullish upward market movement will continue heading upwards.
How to Draw Channels XAUUSD on Gold Charts - How to Draw XAUUSD Up Ward Channels
XAUUSD Down Ward Channels
A downward xauusd channel is plotted by drawing a line that's parallel to the downward xauusd trendline & then adjusting it to touch the bottoms boundary of the gold price movement. This then forms a downwards xauusd channel & as long as a price stays between these two channels the general xauusd market xauusd trend direction is intact the xauusd market xauusd trend direction will continue being bearish.
How to Draw Channels XAUUSD on Gold Charts - How to Draw XAUUSD Down Ward Channels
How to Draw XAUUSD Channels
To draw XAUUSD Channels on MT4 Gold Charts use MetaTrader 4 Charts Drawing Tools for Drawing XAUUSD Channels on MT4 Gold Charts
The MT4 xauusd Channels drawing tools used to draw these xauusd Channels setups on the MT4 are located on the MetaTrader 4 drawing charts toolbar within the MT4 xauusd charts, To access this MT4 charts toolbar if it is not activated on your platform, Click in "View" Next to "File" menu at the tops left corner of MetaTrader 4 platform & click "View", Then Click on "Tool Bars" button key, Then Check the "Lines Tool-bar" by clicking on it.
Below is the example of the MT4 Channels drawing charts toolbar. To draw XAUUSD Channels on a xauusd charts just click on this Channels drawing tool & select the point where you want to plot the upwards XAUUSD Channels or downward xauusd Channels.
How to Draw XAUUSD Channels on Gold Charts in MetaTrader 4 XAUUSD Charts
