would you sit and watch the i minute chart and trade comfortably off it?
how about the 5 min chart?
how about the 15 or 30 min?
how about the hour or 4 hr?
You see, your confidence builds as the timeframe expands.
Why then are so many forex traders caught stuck on the smaller timeframe charts as oppose to the 3hr /4hr or daily?
if u should look at the daily chart, you will see that in almost every bull candle is accompanied by at least one other.
candlestick reading on the daily chart can tell where the real trend is and allows you to make proper technical analysis.
also, trend reversal patters are solid and maybe over 80% safe to follow.
for me, Technical analysis don't exist on charts below the 1h. It is just too risky..
Dont believe me? Start analyzing any USD based Daily charts and see
how about the 5 min chart?
how about the 15 or 30 min?
how about the hour or 4 hr?
You see, your confidence builds as the timeframe expands.
Why then are so many forex traders caught stuck on the smaller timeframe charts as oppose to the 3hr /4hr or daily?
if u should look at the daily chart, you will see that in almost every bull candle is accompanied by at least one other.
candlestick reading on the daily chart can tell where the real trend is and allows you to make proper technical analysis.
also, trend reversal patters are solid and maybe over 80% safe to follow.
for me, Technical analysis don't exist on charts below the 1h. It is just too risky..
Dont believe me? Start analyzing any USD based Daily charts and see