Trading Gold Do Gold Trading Scalping with Different XAUUSD Chart Time frames?
1 Minute Scalping Strategy PDF
Scalpers
This group of traders holds on to their xauusd trades for only a few minutes. The gold trading scalper never holds on to a trade for more than ten minutes. With the objective of making small amounts of pips as profit, 5 - 20 pips.
A Scalper using 1 minute xauusd chart time frame wants to go long, checks 5 minute xauusd chart time frame, which looks like the one below, since 5 minute xauusd chart time frame show gold trend is going up, then decides from this chart technical analysis it's okay to buy.
Gold Trading Scalping on Multiple XAUUSD Charts - Chart Time Frames - 1 Minute Scalping Strategy PDF
Traders using technical analysis use gold charts to try and attempt to predict the movement of xauusd trading price on the xauusd charts.
Gold Trading Scalping 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 Scalping Gold 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 one used for trading and a longer one to check the Gold trend - the chart time frames that you choose for trading xauusd trading price action with will depend on the type of trader you are: for Scalping Traders the chart time frames used for trading will be an example of 1 minute xauusd chart time frame and 5 minutes xauusd trading chart time frame.
Since it is always good to follow the gold trend when gold trading scalping, in Multiple Chart Time Frame Analysis, the longer 5 min chart time frame gives us the direction of the long term gold trend when scalping trading using the 1 Minute Gold Chart Time Frame.
