Trading Gold Do XAUUSD Day Trading with Different Gold Chart Time frames?
5 Minute Day Trading Strategy PDF
Day Traders
This group of gold day trader holds on to their xauusd trades for a few hours but not more than a day. With the objective of making quite a number of pips, 30 - 100 pips.
Day gold trader trading 15 minute xauusd chart time frame wants to go long, checks 1 hour xauusd chart time frame, which looks like the one below, since 1 hour xauusd chart time frame shows market gold trend is going up, then decides from this chart technical analysis it's okay to buy.
XAUUSD Day Trading on Multiple XAUUSD Charts - Chart Time Frames - 5 Minute Day Trading Strategy PDF - 15 Minute Day Trading Strategy - Gold Trading 15 Min Day Trading Strategy
Gold Trading day trader traders using technical analysis use gold charts to try and attempt to predict the movement of xauusd price on the xauusd charts.
Gold Trading Day traders will sometimes use two or more xauusd chart time frames so as to determine the long term gold trend and the short term xauusd trend.
How to Define A Gold Price Gold Trend for Day Trading
Using a xauusd trading system that has 3 indicators - Moving Average Crossover System, RSI and MACD and using simple rules to define the xauusd trend. The trading rules are:
Upward Gold Trend
Both MAs Moving Up
RSI above 50
MACD Above Center line
Downward XAUUSD Trend
Both MAs Moving Down
RSI below 50
MACD Below Center line
Multiple gold charts time frames analysis equals using 2 chart time frames to trade xauusd trading - a shorter xauusd chart time frame used for trading and a longer chart time frame to check the Gold trend - the chart time frames that you choose for trading xauusd price action with will depend on the type of trader you are: for day traders the chart time frames used for trading will be an example of 15 minute xauusd chart time frame and 1 hour xauusd trading chart time frame.
Since it is always good to follow the gold trend when gold Day Trading, in Multiple Chart Time Frame Analysis, the longer 1 hour xauusd chart time frame gives us the direction of the long term gold trend when Day trading using the 15 Minute Gold Chart Time Frame.
