Market Analysis by multiple Timeframe
Most of the newbie don’t know what right time frame to take a trade is and if you want my opinion than it is all depends on your experience and where you feel comfortable and what is your style.
Like if you want to trade in intraday than you cannot think of trading in 4 hour
chart because it will be irrelevant to do that.
Same with swing trade if you looking for a swing trade than you should not be looking for trade in 5m, 15m chat.
If you want my opinion than I would suggest you to trade in 4hour chart because it will remove noise and most of the time give you clear picture where market is going and less you trade less you lose and more you learn and all we want to learn
in our starting days of trading , so for 6 month you should trade in daily and 4 hour chart and once you get confidence in trading you can look for trade in 1 hour
also.
Now let’s get to the point why should we always do multiple time frame analysis before we took the trade suppose you are getting a long trade setup in 1 hour chart than you should also be looking it in 4 hour or daily, what if the price is going to hit a major resistance zone in daily if that happen then the trade you are going to take will be looser in future because that resistance zone going to come in to play soon
and can eat you stop loss.
So if you don’t want that to happen that thing in future always look in bigger picture before take any trade decisions.If you do this before taken any trade it will save penny save is a penny earned”
Above the three chart for USDCAD pair.
Here H1 shown neutral,H4 is Down and D1also is Down.
Now if we want to take a entry must H1 also need to meet for sell.
