DailyForex.com Blog

What time frame do you trade on?  You can choose from 1 minute charts up to monthly charts on most charting software.  So which is best to trade?  Personally I like to watch the 4 hour chart for trend and then use the 15 or 30 minute chart of that same currency pair to get a good entry into the next move.  And its even better to check the weekly chart to see the overall trend of that currency pair.  It took some time for me to really understand how time frames work with each other to give great trading signals in technical analysis.  When the 4 hour chart shows the trend to be up, I wait for the 15 minute chart to dip down so that I can get a “cheaper” entry for a long or buy trade.  It is key to WAIT, wait and be patient for price to enter YOUR BUY ZONE.  Do not chase price up, wait for it, just like fishing.  You wait for the fish to bite and then snag it.  Patience = profit.Â

This entry was posted on Sunday, October 7th, 2007 at 7:15 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.