Trading Do Intra-day Trading with Different Chart Timeframes?
5 Minutes Day Strategy Guide
Day Traders
This group of gold day trader holds on to their trade positions for a couple of a few hours but not more than a day. With main objective of earning quite an amount of pips, 30 to 100 pips.
A Day trader 15 minute chart timeframe wants to go long, checks the H1 time frame, which looks like the one below, since H1 chart timeframe shows market gold trend is moving up, then decides from the chart analysis it is okay to buy.
Day Trading on Multiple Charts - Chart Timeframes - 5 Minutes Day Strategy Tutorial Lesson - 15 Minute Intraday Strategy - Gold 15 Minute Day Trading Method
Gold day trader traders using analysis use gold charts to try and attempt to predict the movement of the price on the charts.
Gold Day traders will sometimes use two or more chart timeframes so as to determine the longterm gold trend & short term trend.
How Do You Define a Market Trend for Intra-day Trading
Using a trading system that has 3 indicators - MA Cross Over Strategy, RSI and MACD & using simple rules to define the market trend. The trading rules are:
Upward Trend
Both MAs Moving Up
RSI Indicator above 50 Mark
MACD Above Centerline
Downwards Trend
Both MAs Moving Averages Moving Down
RSI Indicator below 50 Mark
MACD Below Center-Line
Multiple gold charts time-frames analysis equals using 2 chart timeframes to trade xauusd - a shorter time frame used for trading & a longer time frame to check the trend - chart timeframes that you select for price action with will depend on the type of trader you are: for the day traders the time frames used for trading will be example of 15 min time-frame & 1 hour time-frame.
Since it is always good to follow the market trend when Intraday Trading, in Multiple Time Frame Analysis, the longer 1 H chart timeframe provides us the direction of the longterm gold trend when Intraday trading using the 15 Minutes Chart Time-Frame.
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