Always take a look at the time frame widely
Posted: Mon Mar 29, 2010 3:29 am
It gives the bigger picture of market price movements and thus helps to clearly define the trend. For example, when trading with 15 minute time frame, take a look at 1 hour charts.In the same way: trading with 1 hour charts would require obtaining a picture of daily, weekly price movements.If a trend in Forex is hard to spot dash; choose a bigger time frame. Up and down market patterns are always present. Make sure you know the dominant trend, unless you are a scalper. Scalpers have no need to spend their time studying large trends, instead what's happening in the market here and now (on 1-5 minute time frame) is their main concern.