Post
Topic
Board Trading Discussion
Re: A guide for beginners to learn trading
by
Mpamaegbu
on 08/02/2022, 09:00:40 UTC
But about the support and resistance, for daily traders sometimes support and resistance is not what you need because is just a short time trade.
We find support and resistance in daily timeframe too. It's just that it may not be as strong as those found in weekly and above but it's there. Don't judge any trade or timeframe as short and hurriedly execute trades based on that. There's daily pivot points, remember that. Every daytrader looks out for that.

Quote
Candlesticks are important if you are a swinger or short time trader.
Candle patterns are very important all through. The only difference is that a reversal pattern on a weekly/monthly if spotted on time would net a trader more pips than that on a 1hr/4hrs/daily.