Trading on Multiple Charts XAUUSD Position Trading Strategy

Gold Trading Chart Time Frames

Position Traders

These group of xauusd are the investors that hold on to their trades for weeks or months. With the objective 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 xauusd chart timeframe, weekly xauusd chart timeframe looks like the one below, since weekly xauusd chart shows the xauusd trend is going down, then decides from this technical analysis it is ok to sell.

XAUUSD Position Trading on Multiple Charts - Chart Timeframes

XAUUSD Position Traders using technical analysis use xauusd charts to try & attempt to predict the movement of gold price on the trading charts.

XAUUSD Position traders will sometimes use two or more xauusd chart timeframes so as to figure out the long term xauusd trend and the short term gold trend.

How to Define A XAUUSD Price XAUUSD Trend for Position Trading

Using a xauusd system that has Three indicators - Moving Average Crossover System, RSI and MACD & using simple rules to define the gold trend. The trading rules are:

Upward XAUUSD Trend

Both MAs Moving Up

RSI above 50

MACD Above Centerline

Downward Gold Trend

Both MAs Moving Down

RSI below 50

MACD Below Centerline

Multiple xauusd charts time frames analysis equals using 2 chart timeframes to trade xauusd - a shorter xauusd chart timeframe used for trading & a longer chart time frame to check the xauusd trend - the chart timeframes that you choose for gold 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 time frame and weekly xauusd chart time frame.

Since it is always good to follow the xauusd trend when xauusd Position Trading, in Multiple Chart Timeframe Analysis, the longer weekly xauusd chart time frame gives us the direction of the long-term xauusd trend when Position trading using the daily Gold Chart Timeframe.