Post
Topic
Board Trading Discussion
Re: Multiple timeframes is another means of getting better market clarity
by
Hypnosis00
on 13/07/2023, 22:28:00 UTC
In my opinion, daily trading is more inclined to small time frames, and larger time frames are used as a reference for analyzing longer markets. I usually watch the trend from the larger time frame and place transactions on the smaller time frame. the smaller the time frame used, the more support and resistance areas will be visible, and we can use it to trade with faster market reactions in the visible support and resistance areas. if we analyze on a large time frame, the price reaction will take longer, even though our goal is for short-term, or daily trading
Trading in the bull and bear seasons can become difficult; we simply require to comprehend the market's concepts and price action; this will at the very least facilitate our trading journey. We are acquainted with trading strategies, alongside the support and resistance zone becomes obvious with these smaller views and advantageous trading intervals. I prefer shorter time frames because I am an experienced scalper in the market; trading daily will result in more stress. Despite bigger time frames, we can see the chart perfectly, and the market is turbulent at all times.
You have to use different time frame, different indicators to know when to buy and sell and see your current position, there’s no wrong on doing this and you can become more effective trader if you have this trading strategy since the market can’t be ok in just one time frame or indicator, expect for a trader to use multiple strategy. This is trading and you are looking for the best combination, day trader are often looks at a shorter time frame.
These time frames are available because they are very helpful when doing analysis. I indeed use short and long time frames just to picture what really happens on this particular project as we can't just rely on what happened today or this week but also, we consider what happened several months ago. Yes, the use of multiple timeframes makes us clearly understand their situation and it was easy for us to decide whether we have to buy this or not based on their previous performances.