Quote from: palle11 on July 11, 2023, 01:12:13 PM

Quote from: Flexystar on July 11, 2023, 11:54:00 AM

For example it can give clear idea if Bitcoin stood its resistance when FTX collapse was happening or if China declared no bitcoin country etc etc. This is just example but such analysis can be done easily. On the other front it is easy to understand the pattern of specific coin, it’s volume, it’s growth and declining nature etc. This is the reason multiple time frames should be done.

I guess the FTX and China analysis is funny to me even though I understand the point you were making there but however, it is still difficult to see that through the chart except it is a fresh chart, probably the same day they happened. But if it is a long time ago, it may not be easy to know except you are specifically checking for that which may be of no use on the long run because that incident is not repeating itself again. But it is right to use different time frame for trade, it gives more direction for trend.

I understand you quite well, but the scope is not directly knowing the China and FTX issues via the chart but knowing the effect of their action and issues respectively on the chart. In other words, the chart allows traders to know the winning bias/sentiment in the market regardless if it's caused by news or not, the chart will always pick it. So, both of you are right.

Quote from: pawanjain on July 12, 2023, 04:09:48 PM

Quote from: EarnOnVictor on July 11, 2023, 07:23:55 AM

Quote from: pawanjain on June 29, 2023, 02:35:27 PM

As for the timeframes, I mostly stick to 3 timeframes 1D, 1H and 15m which are ideal for me right now.

I must say that this is a very good combination. If one would want to use very large time frames like 1Y, 1M and even 1W, there are other sets of timeframes that work best with them, and the same thing goes for the combining in which the highest timeframe is 1D like yours.

In 3 combinations, I love settings like (1Y, 1M and 1W), (1W, 1D and 4H) and (1D, 1H and 15m) which is yours.

Did you just say 1Y. That must be really huge. I have never went past 1M which I rarely read.
For me it has mostly been 1W for the highest time frame and it gives me enough data to analyze the trend.
What do you generally read when you are looking at 1M and 1Y ?

The point is that I generalised the combo, not that I use the 1Y, but I often see it on some trading platforms despite being absent in many others. Basically, there is no need for retail traders like us to be using the 1Y chart, it's widely used by institutional traders, especially for trading stocks, bonds and many others. They could hold their positions for several months and years which makes it useful for them.