Your Questions About Chart Forex Trading The following Question and Answer is brought to you by our Forex Consultant with interaction from members of the Yahoo Answers community.
Trading on multiple time lines? Hi, I started reading up on drawing triangles on my candles. What I want to know how do I trade a triangle by looking on 3 different charts? They say you must always use multiple times frames. Letâ€™s say I would draw a triangle, on what time if I use 30 min, 1 hour and 4 hours? I trade forex. Then what is a better timeframe to trade? Daily, 4 hours and 1 hour?
admin answers: What is meant by trading with multiple
time frames is to be aware of price behavior in each time frame that may impact the time frame used to trigger your decisions. You may have a triangle pattern that shows an upside breakout on the 30 min chart, not on the hourly chart, but the 240 min chart shows resistance somewhere above your breakout point on the 30 min chart, limiting what you think may be upside potential, as a loose example. It is best to always know the trend of any market in which you trade, and your best trades will come from situations in which all time frames are in harmony with the direction of your intended move. The 240 minute time frame is the most reliable. The hourly, and for sure the 30 min, have too much â€œnoise.â€? Professional forex traders are very much aware of time frames. Be v careful.
Powered by Yahoo! Answers Click here for answers to your most burning Forex questions.
2/2 Powered by TCPDF (www.tcpdf.org)
The following Question and Answer is brought to you by our Forex Consultant with interaction from members of the Yahoo Answers community. ad...