XAUUSD Trading Strategy | How To Trade Gold - YouTube

What's up everybody it's Johan Nordstrom from Trading Walk and in this video

we're going to look at XAUUSD so the gold chart

okay so looking at the

daily chart here we can see that we have a very nice uptrend and before we do

anything else I just want to show you this so if we had my Trend Pulse Pro

system you can see that we have some very very nice signals basically one two

three nice buy signals here in pullbacks in the direction of the trend and then

we have some consolidation here basically this is a pennant so prices

consolidating and always when you're in a consolidation you always want to expect

the breakout to be in the direction of the previous trend so if we come from an

uptrend into consolidation like this expect the breakout to be to the upside

and if you get signals in a consolation like a pennant you only want to scalp

these trades so quick profits if you traded these short signals you could

have made some money on them but the main signal here is right when we have

the breakout you get a buy signal from Trend Pulse Pro and I mean you see here

beautiful buy signal and then you can add on these buy signals and we have a

new move up so very nice signals on the gold daily chart here now I want to show

you the technical analysis and some tips you can use to become a skilled trader

so if we look at a monthly chart here we can see that we're in this cup here we

had a very strong uptrend from this top here and this bottom support and

resistance levels we also have as I talked about in a previous video when

you have tight constellation and the breakup of that consolation the last

resistance so this right here is going to act support in

the future and you see that this support is also the beginning of the nice move

we had this previous months here we also have a resistance right here so you

see we're now at the resistance so just a quick forecast looking at this where

my price move now well we made a strong move up so you might not want to buy

here you may be too late so where can you buy well we have a next support

level right here so we might see a move down here now but we can also continue

up and then make a small pullback and continue this move to maybe this

resistance so if we zoom down to daily chart here and you can see here is the

support area we might come down to and this is the resistance we're at right

now so how could you have traded this well what I did was I shorted up here

because of this resistance line on the higher time frame now you don't want to

blindly take a short in a strong move you want some confirmation so basically

what I liked about this trade was if we move down to a 1 hour chart we have a

resistance here and a cup and handle and a cup and handle is a common pattern

and basically it's a continuation pattern but here's an important thing

always when you have a pattern like triangle breakout or a cup on handle

breakout if these patterns fail you often get a very nice opportunity to

reverse the position the breakout point was here you had the breakout but

immediately price stalled and then it broke down here made a small pullback

but immediately crushed down and then you had this very very strong move here

so imagine if you knew that this was a cup and handle and you had a breakout but

it failed and failed patterns make very very good trades in the opposite

direction so what you can do then is move down to a even smaller time frame

and if we scroll back here to the top this is the breakout of the cup and

handle and is stalled and it then failed well you can

just use Trend Pulse Pro you will see how easily this is so adding Trend Pulse Pro

here we can see that it actually gave you buy signals before the breakout but

immediately when this fail first we have a trend shift in the trendline it turns

from green to red and then actually before it fails you have your first sell

signal and then a second one so just looking at this trade here basically you

go short here and you can place your stop-loss above the signal and this is a

very low-risk trade and like I talked about in previous videos you want to use

your higher time frame to find your take profit target so looking now again at

the one hour chart we can see that this was our entry level our signal was here

in the five minute chart and this is the cup and handle so where is a logical

area to place your take profit well it's at the bottom of this pattern so you see

here this distance here is your risk and this is your reward so I mean this is a

very very high reward trade and like just place your orders entry place your

stop loss and place your take profit and just let the trade work for you and you

can see here price just crashed down into that support so basically that's

how you use technical analysis and how you can use failed chart patterns to

find a very very good trades and how you can use Trend Pulse Pro to find low risk

entry points if you enjoyed this video please leave a like and subscribe to my

channel I really appreciate it and if you have any questions drop a comment

below and I will answer them when I can thank you so much for watching and don't

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