How Do I Trade XAUUSD Day Trading with Different Gold Chart Timeframes?
How Do I Analyze XAUUSD Day Trading with Different XAUUSD Chart Timeframes?
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 trend is going up, then decides from this gold chart technical analysis it's okay to buy.
XAUUSD Day Trading on Multiple Chart Time Frames - 5 Minute Day Strategy
Gold day trader traders using technical analysis use gold charts to try and attempt to predict the movement of xauusd price on the xauusd trading charts.
Gold 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.
Trading Gold Define A Gold Price Trend for Day Gold Trading
Using a xauusd trading system that has 3 xauusd indicators - Moving Average Crossover Gold Trading System, RSI XAUUSD Indicator and MACD XAUUSD Indicator and using simple gold trading rules to define the xauusd trend. The gold trading rules are:
Upwards Gold Trend
Both Moving Averages Moving Up
RSI Gold Indicator above 50
MACD Gold Indicator Above Center line
Downwards Gold Trend
Both Moving Averages Moving Down
RSI Gold Indicator below 50
MACD Gold Indicator Below Center line
Multiple gold charts time frames analysis equals using 2 xauusd chart time-frames to trade Gold - a shorter xauusd chart timeframe used for trading & a longer xauusd chart time frame to check the Gold trend - xauusd 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 xauusd 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.
How Do I Read XAUUSD Day Trading with Different Gold Chart Time-frames?
