Yeah as an example,
Your 15 minute chart, 240 min chart, and daily are open in your screen. "I prefer to have multiple time frames up to see things live"
1. So say the the 15 minute is oversold, and the 240min/daily are still going down and not in oversold territory
2. Wait for the 15 minute chart's oscillator to reach overbought territory "pullback" and you will notice if there is any demand for the currency
based on how price moves along with the oscillator. You will notice that if larger timeframes are still going down, and the oscillator in the 15 minute chart is
reaching overbought territory "going against the major trend" price will not move at the same pace as its oscillator because there is NO DEMAND, so sell!
3. You will notice that an up move on the oscillator on the 15 minute chart had NO affect on the downward oscillators in the higher time frames.
Your 15 minute chart, 240 min chart, and daily are open in your screen. "I prefer to have multiple time frames up to see things live"
1. So say the the 15 minute is oversold, and the 240min/daily are still going down and not in oversold territory
2. Wait for the 15 minute chart's oscillator to reach overbought territory "pullback" and you will notice if there is any demand for the currency
based on how price moves along with the oscillator. You will notice that if larger timeframes are still going down, and the oscillator in the 15 minute chart is
reaching overbought territory "going against the major trend" price will not move at the same pace as its oscillator because there is NO DEMAND, so sell!
3. You will notice that an up move on the oscillator on the 15 minute chart had NO affect on the downward oscillators in the higher time frames.
Disliked{quote} Thanks, I think what Investing is saying is whatever the timeframe youre using as your main entry, always look on a higher timeframe direction and then take trades in that direction on your lower timeframe once your oscillator shows that its overbought/sold (and its reached your supply or demand level), this way the movements of the trade you enter will be safe and better, bigger pips.Ignored
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