Traders’ preferences may vary, depending on convenience, traders may like M5, but I use M15 more for gold.
Mostly I read the chart pattern, but I put indicators like Bollinger band, MA 200, and RSI.
Close 15-20 pips in profit.
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That’s not a bad way to do it, but I found longer time frames to be the more profitable. I switched to weekly charts and everything just got better, it’s worth a try I would say.
At these short term timeframes, there will be plenty of opportunities. However, since the trader can’t watch the charts 23 hours a day, may miss some of the best opportunities.
Case in point, to the detriment of US and European traders there have been a lot of sessions where gold and silver have been made the larger impulse moves in the Asian sessions, gone sideways in the European session and made smaller pull backs with 2-way stop hunting during the US sessions since the Oct 2022 low.