The trend is constantly changing, so does it make sense?
Does it make sense to look beyond 15 minutes?
- Thread starter trader1974
- Start date
Sometimes it may look like an uptrend/downtrend on a lower timeframe but if you look at a higher timeframe it's a different story.
Someone else daytrading might ask, does it make sense to look at anything beyond the 1 or 5 minute, but the 15 minute might show a different pattern. It might look like an uptrend on the 5 minute, but the 15 minute might show a clear downtrend. Or vice versa. Or that it could go either way still.
I think it's always a good idea to review at least the daily first, maybe even weekly. Understand possible support and resistance areas, your possible exit point. Then get a precise entry with a lower timeframe.
It kind of depends on how long you want to be in the trade for too.
But be looking at multiple timeframes at the same time.
Have a look here for an example:
Someone else daytrading might ask, does it make sense to look at anything beyond the 1 or 5 minute, but the 15 minute might show a different pattern. It might look like an uptrend on the 5 minute, but the 15 minute might show a clear downtrend. Or vice versa. Or that it could go either way still.
I think it's always a good idea to review at least the daily first, maybe even weekly. Understand possible support and resistance areas, your possible exit point. Then get a precise entry with a lower timeframe.
It kind of depends on how long you want to be in the trade for too.
But be looking at multiple timeframes at the same time.
Have a look here for an example:
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Yes of course. Daily will sometimes tell you the turning points, e.g. Look at a good time sampling and make a judgement call. Just because you have additional data does not mean it is all actionable. That is where your skill comes in, knowing what is noise and what is not.
if it is constantly changing it is not a trend
in trading determine is the market ranging or trending in the time frame you are looking to trade.
if you do not know then do not trade.
you have to know whether it is land or water you want to manage. so either get a boat or a car/lorry.
it is that simple
if you do not know then do not trade.
you have to know whether it is land or water you want to manage. so either get a boat or a car/lorry.
it is that simple
if you are trading a lower time frame, then trade it, like it looks......if it is an uptrend, trade it like one.
there is absolutely no point looking at 5 min and 1 H.......either make 5 min trades or make Hourly trades
Depends on the time frame you're trading. If you're doing 10-second scalps, then you don't care about the yearly/monthly/etc. trends. If you're planning to hold stocks in your portfolio for the next 20 years, the 10-tick TF is probably not too applicable to you.
In general, I consider TA to be 99% voodoo bullshit, but there are some directional clues to be gathered from it - and for those, there's a benefit to zooming out to get context. E.g., if your 15 minute time frame shows an uptrend, but everything above it (hourly, daily, weekly, etc.) is red, assuming that it's just a short-term pop seems reasonable.
