The currencies of the world move in trends over the higher time frames
thanks, i have a question, would you mind sir which system do you follow maximum time in your trade and which time frame are
follow to your trading.
day trading system
daily time frame
many forex traders focus exclusively on short term frame and spend their time watching charts in an attempt to profit.
They believe that it’s the best way to profit in the forex market. But that couldn’t be further from the truth.
These traders are missing out on the power of the higher time frames in the forex market. The currencies of the world move in
trends over the higher timeframes the same as they do over the smaller ones and if you open a trade in the right direction then you
can set your self up for great returns without the stress and time commitment of the smaller timeframes.
The daily charts were a slower paced trading and analysis.
consider that the daily is the time frame that most market observers will use to gauge the sentiment,
momentum, and trend. Because of this, the “overall”, most generally accepted opinion will be consistently that of the daily
then to determine the market trend of this time frame before you enter intraday trades.
The daily offers a directional bias.
first step is always to assess the direction of the daily chart around by the AUDUSD, USDCHF,USDJPY
because these pairs are in a sideways range on the daily.
When the daily chart is not offering a clear-cut view of a market trend then change to more higher time frame weekly or monthly
Tight channel and spike and channel bull or bear