XAUUSD Indicators That Are Used for Taking Profit
XAUUSD Buy Sell Indicators & XAUUSD Exit Indicators
Once xauusd traders have learned how to trade the xauusd market using xauusd technical analysis indicators that produce bullish xauusd signals or bearish xauusd signals based on a combination of xauusd trend following technical indicators & xauusd trend confirmation indicators then xauusd traders need to know more about the technical indicators that can be used to determine where to place take profit levels and exit open gold trades - XAUUSD Exit Indicators. These XAUUSD Exit Indicators will be used to calculate where to place a take profit level for a trade - after a trade has been opened. These indicators can also be used by EA traders to Program Auto Stop Loss XAUUSD Order and Take Profit XAUUSD Order EA MT4 - Auto Stop Loss XAUUSD Order and Take Profit XAUUSD Order Expert Advisor MetaTrader 4.
There are many types of xauusd indicators that can be used as XAUUSD Exit Indicators to determine where to take profit. A trader needs to know these indicators so as to know when to take profit and close an open trade.
How to Analyze The Market To Know Where to Take Profit XAUUSD Order
Before learning about the various xauusd take profit indicators available in the xauusd market and on the MetaTrader 4 platform, xauusd traders need to know about overbought and oversold levels.
These overbought and oversold levels are used as xauusd profit taking levels and this overbought and oversold xauusd market analysis will be used to analyze when to close open gold trades.
Overbought Level - overbought levels on xauusd indicators is when price is above the 80 mark for xauusd technical indicators such as RSI indicator & Stochastic Oscillator. A trader will close open buy gold trades once the xauusd indicator is in the overbought region. The trader will not close the open xauusd trade immediately after the xauusd indicator is overbought but when the xauusd indicator leaves this overbought level and moves back below the 80 mark.
Oversold Level - Oversold levels in xauusd is when price is below the 20 mark for xauusd indicators such as RSI technical indicator & Stochastic Oscillator. A trader will close open sell gold trades once the xauusd indicator is in the oversold region. The trader will not close the open xauusd trade immediately after the xauusd indicator is oversold but when the technical indicator leaves this oversold level and moves back above the 20 mark.
Gold Technical Indicators Explained
Bollinger Band Technical Indicator - a trader will use the upper Bollinger bands and lower Bollinger bands to determine the levels where they can set their take profit levels for their open gold trades.
Parabolic SAR - Parabolic SAR indicator is a xauusd trend following indicator that draws dots below the gold price in an upwards xauusd trend and draws dots above the gold price in downwards trend. These dots trail the gold trading price - in an upward xauusd trend these dots trail the upward trend below the xauusd trend and can be used to set where to close a buy xauusd trade - XAUUSD Exit Indicators. In a downward xauusd trend these dots trail above the gold price & can be used to know when to close open sell gold trades.
XAUUSD Trading Fib Expansion - Fibonacci expansion indicator is used to calculate where to set taking profit levels, gold traders can use this Fibonacci expansion indicator to set their take profit areas.
Traders can learn more about the Fib expansion technical indicator from the learn xauusd lessons section, while the Bollinger bands indicator is explained on the learn xauusd indicators and learn xauusd strategies section, Parabolic SAR indicator tutorial can be found on the learn xauusd technical indicators section.
