XAUUSD Best Trading Technique

You are welcome to this page. Here, you will learn about the Best trading techniques for XAUUSD (Gold).

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Price Action Technique: Learning Price Action Technique way of trading XAUUSD is the most sought after.

However, Price Action way of Trading Gold is a skill and the method somehow difficult to understand for most newbies.

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Primarily, the use of price action is dependent on technical analysis tools such as Trendlines, zig zag, fibonacci e.t.c.

The following ways are forms of Price Action identification:

-Swings (Higher High, Higher Low, Lower High, Lower Low),

-Candlestick patterns,

-Channel breakouts,

-Trendline breakouts,

-Support and resistance,

-Megaphone price swing,

-Trading pin bars,

-V and inverted V patterns,

-Head and Shoulders,

-Quasimodo technique.

-Pivot Trading technique.

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BeanFX Price Action Setup

     

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New traders must know above the Market cycles that are driven by large institutions or corporations.

It is no longer news that Market moves in four cycles or phases namely;

1. Accumulation phase

2. Mark-up phase

3. Distribution phase and,

4. Mark down phase.

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Market Price Cycle

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XAUUSD BEST TRADE TECHNIQUE EXPLAINED:

The technique involves checking Price movement for Price Breakouts at Support and Resistance Levels during the London and NewYork Market Opens.

On the Daily time frame, traders can know the market Bias/Direction/Trend while Breakouts can be identified on the lower time frames.

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Five minutes, fifteen minutes or thirty minutes time frames are ideal time frames for Breakout Identification.

The following are the steps you can follow when using this technique:

-Identify the trend on the Daily time frame.

Market price will form Higher High, Higher Low in a Bullish trend. Market price will form Lower Low, Lower High in a Bearish trend.

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Bearish Trend Setup:

-If the trend is Bearish on the Daily Time frame, then go to the Lower Time frame and try to identify Bearish Breakouts only.

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Bullish Trend Setup:

-However, if the trend is Bullish on the Daily Time frame, then go to the Lower Time frame and try to identify Bullish Breakouts only.

 

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Check Out:

How To Calculate Pivot Point

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