Trading Gold Do XAUUSD Day Trading with Different Gold Chart Timeframes?
5 Minute Day Strategy Guide
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 aim of making quite a number of pips, 30 to 100 pips.
Day gold trader trading 15 min chart time frame wants to go long, checks the 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 Charts - Chart Time Frames - 5 Minute Day Strategy PDF - 15 Minute Day Strategy - Gold Trading 15 Minute 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 trading charts.
Gold Trading Day traders will sometimes use two or more xauusd chart time frames so as to determine the long term gold trend & short term xauusd trend.
How to Define A Gold Price Gold Trend for Day Trading
Using a xauusd trading system that has Three indicators - Moving Average Crossover System, RSI & MACD & using simple rules to define the xauusd trend. The trading rules are:
Upwards Gold Trend
Both MAs Moving Up
RSI above 50
MACD Above Center line
Downwards 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 timeframe used for trading & a longer chart time-frame to check the Gold trend - 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 example of 15 min trading chart time frame and 1 hour xauusd chart time-frame.
Since it's always good to follow the gold trend when gold Day Trading, in Multiple Chart Time Frame Analysis, the longer 1 hour xauusd chart timeframe gives us the direction of the long term gold trend when Day trading using the 15 Minute Gold Chart Timeframe.
