Which time frame is best for trading forex?
We know many time frames to trade forex.
From the monthly to the 1 minute.
Swing traders often trade a higher time frame and scalpers a lower time frame.
Yet it is very important to start from the higher time frames, even as a scalper.
The higher time frames show a much clearer direction and the support / resistance levels or the supply demand levels are much stronger.
I always draw first from the daily time frame, then the H4 and then the H1.
I often enter on the M30 time frame or the M15 time frame.
Levels lower than the 1 hourly time frame are tended to give false information.
Lots of waves are known as distractors or “noise”.
This could lead to confusion and bad decisions.
Look at the Support & Resistance like stairs. Moving up the stairs for the bulls and downstairs for the bears.
Market is in an upwards trend when bulls are peaking higher (higher highs) and have higher lows (when their lows are higher as normal).
While the bears make Lower lows and Lower highs.
When searching for extra levels or you can’t find any levels at all, you need to go back in time.
When your opinion of a certain pair is Bullish,
you’ll need to wait till the pair closes the last Resistance level.
You surely place your stop loss order just beneath the latest low or Support level.
When your judgement of the pair is Bearish, obviously you need to wait till the pair closes the latest Resistance level.
Place your stop loss order just above the latest high or just above the Resistance level.
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