Timeframe is so important

Hi everyone

You need to pick 'ONE' timeframe to be succesfull.

Back up your trade with earlier/later,timeframes,but MOST important you trade'YOUR'timeframe.

Depending on the timeframe you use,then your T/P,S/L needs to be realistic and adjusted to suit

Regards

Ken

I agree totally. I have had much success rellying strictly on the 4 hour chart but I use the weekly and daily to guide me using RSI. RSI gives direction and defines which way (buy or sell) I will be watching the 4 hour chart for a trade setup. Must give credit to member Law Girl who turned me on to this method.

oh really?

Charting TF is the least important aspect of time when it comes to trading..


if I pull up a 1 minute please tell me what I cannot see that could have been seen on a 4 hour?

time frames are when all zero's collided and made a pretty bar... if you prefer the 4 hour good for you

I both scalp short term and trade higher time frames. If I am scalping for ten pip targets in the heat of the Euro session using the one minute chart I most certainly will be also watching the 5, 15, and one hour bars for fibs and support and resistance levels. Using only a one minute chart, you would have to have like 1500 bars displayed to see everything and even then it would be messy. Hey, if you have success using just the one minute bars then great for you, to each his own. My method is to start at the higher times and start drawing in support/resistance levels and fibs. Using the same chart window I just move down in time scale until I arrive at the one minute chart. That way I am aware of levels that can be scalped off of like bounces off of support lines or breakouts. In my mind this method is using one time frame but takes into consideration where price action will have a higher probability to react in a certain way by taking a broader look at price action over longer periods of time.
Cheers!

When you have good results on one time frame there are two options. You can keep trading only on this time frame as you make money or you can also add second time frame.

Trading PA is best done correctly when the timeframe is the session so far. You are placing a deadline on the market by trading within timeframes and at best in a position to scalp. When you really understand PA you should have a good idea about where the market can get to as part of its move. Everything else is normal ebb and flow as it makes its way to at least X.

Daily timeframe provides/demonstrates PA in all its glory. The market (any market that is) is always trying to getting to X (the position of the session high/low so far and any support/resistance already in place determines whether it can.

The biggest clues come from where the low so far is positioned or likewise the high depending on current direction. It is all very predictive and you just need to know what tells you the high cannot go higher or low cannot be pushed lower.

Good Luck With Your Trading

makingpips