We like to use the triple time frame, because through the triple time frame analysis, we can have a comprehensive understanding of the long-term, medium-term and short-term trends of the exchange rate.
The longest time frame determines the main trend of the price-this will show us the overall trend of the exchange rate.
The mid-term time frame is our most commonly used time frame, which can provide us with mid-term buy or sell signals.
The shortest time frame shows the short-term price trend, which can help us find the real entry and exit points.
You can use any time frame you think is suitable, provided that the time frames you choose cannot be too far or too close.
Below, we recommend to you several common time frame combinations:
• 1 minute, 5 minutes and 30 minutes
• 5 minutes, 30 minutes and 4 hours
• 15 minutes, 1 hour and 4 hours
• 1-hour, 4-hour and daily charts
• 4 hours, daily and weekly charts
When you are deciding how much time should elapse between different time frames, you should first determine that there should be a certain difference in the price trend between a smaller time frame and a larger time frame, that is, the effect of the smaller time frame on the price The trend is described in more detail, instead of these patterns that can be displayed in a smaller time frame, it will also be displayed in a larger time frame.
If the selected time frame is too close, then it will be difficult for you to find different price trends under different time frames, which is also useless.
Now you have done it! You can add multiple time frame analysis to your forex toolbox!
Here are some suggestions you should keep in mind:
• You must determine the correct time frame that suits you. In order to determine the right time frame for yourself, you need to try to use different time frames in different market environments, record your trading results, analyze these results, and finally find the most suitable trading time frame for you;
• Once you have found your preferred time frame, open the graph for the longer time frame. Then, determine whether to go long or short based on the price trend in the longer-term time frame. Then, turn to your preferred time frame (or shorter time frame) again to determine your entry and exit strategy (set stop loss and profit targets);
• With the analysis of longer time frame graphics, you can get a broader trading perspective that traders who only focus on a single time dimension could not obtain;
• When trading, develop the habit of multiple time frame analysis;
• Ensure certain trading practice. Do not know the button to switch between different time windows when trading. You should know how to quickly switch between different time windows, and you should also learn to display multiple time windows on the screen at the same time;
• Choose a set of time frames that you will observe, and focus on the research of these time frames, and then learn all the market information you can learn from these time frames;
• Don’t pay attention to too many time frames, too much time window information will make you powerless, and you may even crash. It is enough to choose two or three time windows, more than this number is not good;
• A global grasp of price movements is not enough. You should use multiple time frame analysis to solve the conflicting information issued by different indicators and time windows. Before starting your market analysis, don’t get too close to the market, but always observe the market from a broader perspective.