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