Various Types of Strategies & Different Chart Timeframes Explained
The different strategies which use different chart timeframes are:
- Scalping Strategy
- Day Trading Strategy
- Swing Strategy
- Position Trading Strategy
Scalping Strategy
Scalping strategy is where one will use chart timeframes of 5 minutes & below.
Scalpers only open trades for a few minutes & open many trades during the day.
Scalping strategy requires a gold trader to have a lot of time to monitor the price moves waiting for trade opportunities to open trade positions.
XAUUSD scalper traders aim to capture the short term price movements that move within a few minutes.
Intra-day Trading Strategy
Day trading strategy is where one will use chart timeframes of 1 hour & below.
Day Trading strategy requires a xauusd trader to have a lot of time to monitor the price moves waiting for trade opportunities to open trade positions.
XAUUSD day traders aim to capture the intraday price short term movements.
Swing Strategy
Swing strategy is where one will use chart timeframes of between 1 hour charts and daily charts.
Swing strategy requires a gold trader to use less time to monitor the price moves waiting for trade opportunities to open trade positions.
XAUUSD swing traders will use chart time frames that are long enough to help them identify the intermediate market trends.
XAUUSD swing traders aim to capture the medium term price movements.
Position Trading Strategy
Position strategy is where one will use chart timeframes of between day charts and monthly charts.
Position strategy requires a xauusd trader to use less time to monitor the price moves waiting for trade opportunities to open trade positions.
Position swing traders will use chart time frames that are long enough to help them identify the long term market trends.
XAUUSD position traders aim to capture the long term price movements.
Various Types of Strategies & Different Chart Timeframes Explained
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