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How to trade Gold? A question on many traders’ and investors’ minds. Many follow the news, others pour over data to find fundamental reasons for the way the Gold chart looks and others delve into Gold technical analysis. In this video we focus on three indicators that many traders use in technical analysis – the RSI, MACD and Moving Averages.
We’ll show you how to use them in actual gold trading scenarios, what they mean and how to interpret them to aid your own Gold trading strategy. We focus on the overbought/oversold levels of the RSI, as well as the moving average lines on the chart, that cross over and under the candlesticks, all on the actual Gold chart.
One thng that you do have to remember, especially if you’re at the “Gold trading for beginners” phase – indicators aren’t always right. There are a multitude of factors at play at any given time and with Gold being one of the most popular markets in the world, it’s susceptible to many market forces, that can’t always be explained with technical indicators.
But at the same time, these Gold indicators are the closest thing traders and investors have to a tool that provides a reliable measurement.
Do you have another answer to the question “What is the best chart indicator?” – let us know in the comments!
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