Intraday is a trading term that means within the day. Because of the time sensitive nature of forex trading, intraday is used to refer to anything that happens exclusively within one trading session as dictated by a trader’s home time zone.
Intraday is often used to refer to extremely short term trends and trades. An intraday position or trade is one that is entered and exited during the same trading session. Moreover, any chart formations that have a duration measured in hours or minutes is, by definition, an intraday formation. That said, many longer term formations are simply an aggregation of progressive intraday formations, as in Elliot waves.
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