Technical Analysis Using Multiple Timeframes
Multiple timeframe xauusd trading strategy equals using 2 chart time-frames to trade gold trading - a shorter chart timeframe used for trading & a longer chart time frame used to check the xauusd trend.
Since it is always good to follow the xauusd trend when xauusd, in Multiple Chart Timeframe XAUUSD Analysis, the longer chart time frame gives us the direction of the long term xauusd trend.
If the long term xauusd trend direction supports the direction of the smaller chart time-frame then probability of opening a profitable xauusd trade is significantly increased. This is because even if you make a mistake the long term xauusd trend will eventually save you. Also if you trade with direction of the trend, then mostly you will be on the winning side - this is what this Multiple Timeframe XAUUSD Trading Analysis is all about.
Remember there is a popular saying by many traders and investors that says: 'The xauusd trend is your friend' - never go against the xauusd trend when trading.
There are four different types of xauusd traders - all these different types of xauusd traders use different chart time frames to trade as shown below.
Examples of how each type of xauusd trader uses multiple time frames xauusd trading strategy:
Multiple Timeframe Gold Trading Analysis Scalping
Scalpers hold on to their gold trades for only a few minutes. Scalping xauusd trader never holds on to a xauusd trade for more than ten minutes. With the objective of making small amounts of pips as profit, 5 to 15 pips.
A Scalper using 1 minute chart wants to open a buy xauusd trade, checks 5 minute chart, which looks like the one below, since 5 min chart show xauusd trend is moving upward, then decides from this multiple timeframe xauusd strategy it is okay to open a buy gold trade.
Technical Analysis Using Multiple Timeframes
Multiple Timeframe Gold Trading Analysis Day XAUUSD
Day xauusd traders hold on to their open gold trades for a few hours but not more than a day. With the aim to make quite a number of pips in profit: 30 - 60 pips.
XAUUSD day trader trading 15 minutes chart wants to open a buy xauusd trade, checks 1 hour gold chart, which looks like the xauusd chart below, since 1 hour xauusd chart shows xauusd trend is moving upward, then decides from this multiple timeframe xauusd strategy it is okay to open a buy gold trade.
Multiple Timeframe XAUUSD Trading Analysis Day Gold - Multiple XAUUSD Time-frame Analysis
Trading 2 or 3 Time Frames on Gold Charts
Swing xauusd traders hold on to their open gold trades for a few days to a week. With the objective to make a large number of pips in profit: 100 - 250 pips.
Swing trader using 1 hour xauusd chart wants to open a sell xauusd trade, checks 4 hour gold chart, which looks like the xauusd chart example illustrated below, since 4 hour xauusd chart shows the xauusd trend is heading down, then decides from this multiple time-frame xauusd strategy it is okay to open a sell gold trade.
Trading 2 or 3 Time Frames on Gold Charts - Trading 2 or 3 Time-frames on XAUUSD Charts
Multiple Timeframe XAUUSD Strategy
Position xauusd traders are traders who hold on to their gold trades for weeks or months. With the objective to make a large number of pips in profit: 300 - 800 pips.
Position xauusd trader using the daily chart wants to open a sell xauusd trade, checks weekly gold chart, weekly looks like the xauusd chart examples illustrated below, since weekly xauusd chart shows the xauusd trend is heading down, then decides from this multiple time-frame xauusd strategy it is okay to open a sell gold trade.
Multiple Time Frame XAUUSD Strategy
XAUUSD Trading Multiple Time Frame XAUUSD Trading Strategy - Technical Analysis Using Multiple XAUUSD Time Frames - XAUUSD Multiple Time-frame Trading Strategy - Multiple XAUUSD Time-frame Analysis - Trading 2 or 3 Time-frames on Gold Charts - Multiple Timeframe XAUUSD Trading Analysis
