How Do I Trade Position XAUUSD with Different Chart Time Frames
How to Analyze Position XAUUSD with Different Chart Time Frames
Position Traders
These group of xauusd trading are the investors that hold on to their trades for weeks or months. With the aim of making a large number of pips, 300 - 1,000 pips.
Position xauusd trader using the daily chart timeframe wants to go short, checks weekly chart timeframe, weekly chart timeframe looks like the one below, since weekly chart shows the trend is heading down, then decides from the analysis it's okay to sell.
Interpret Position XAUUSD with Different Chart Time Frames?
XAUUSD Position Traders using technical analysis use xauusd charts to try and attempt to predict the movement of price on the charts.
XAUUSD Position traders will sometimes use two or more xauusd chart timeframes so as to determine the long term xauusd trend and short term xauusd trend.
Trading XAUUSD Define A Price Trend for Position XAUUSD
Using a xauusd system that has Three xauusd indicators - Moving Average Crossover XAUUSD System, RSI Indicator & MACD Indicator & using simple xauusd rules to define the trend. The xauusd rules are:
Upward Trend
Both MAs Moving Up
RSI Indicator above 50
MACD Indicator Above Center Line
Downward Trend
Both MAs Moving Down
RSI Indicator below 50
MACD Indicator Below Center Line
Multiple xauusd charts time frames analysis equals using two xauusd chart timeframes to trade XAUUSD instruments - a shorter xauusd chart timeframe used for trading and a longer xauusd chart timeframe to check the trend - gold chart timeframes that you choose for price action with will depend on the type of trader you are: for Position Traders the chart timeframes used for trading will be an example of daily chart timeframe & weekly chart timeframe.
Since it is always good to follow the trend when xauusd trading Position Trading, in Multiple Chart Time-frame Analysis, the longer weekly time-frame gives us the direction of the long term xauusd trend when Position XAUUSD using the Daily Chart Time Frame.
Read Position XAUUSD with Different Chart Time Frames
