When we focus on a couple of pairs. Is it better that we concentrate on a single timeframe?
When we focus on a couple of pairs. Is it better that we concentrate on a single timeframe?
Depends upon what time frame you are trading. H4 down plus 1 hr up is a ideal market setup, if you are trading the 4 hr chart. If you are trading the hourly, then not too much.Originally Posted by ;
Hourly down, 15m up.... Sell. Hourly trade.
Weekly down, daily up....Sell. Weekly trade
4hr up, 1 hr down....buy. 4hr trade.
Buy the dips sell the rallies.
Though most of my transactions are clicked on the 1 second time frame, I am constantly taking a look at the 1 hour, 15 min, and 5 min time frames for areas of support or resistance.
I utilize several timeframes ....usually 5, 15, 30min and 1h.Originally Posted by ;
I would rather use 1 Hour and Daily charts. It is nearly always sound fluctuations if you use less than 1 hour. Longer than daily intervals aren't as indiive already.
I always look 3 time frames higher than the one I am trading to obtain the long term trend (e.g. transactions placed on M15 I look at 4HR to determine tendency management). I would use an MA of 20 period and whether price is above or below for leadership.
That depends upon your egy. When you have a egy that needs more time frames, you'd focus on more than 1 time period.
While I use basically scalping I have to depend on 1 hour and daily charts. It encourages me to calculate the market occasionally with surely which is truly supportive to bring profit from my egy. Really which time frame you require it entirely depend on your trading methods.
I would rather go for several time frames. It provides you more trading choices.