but you to have some basis for looking at say, a daily, vs a weekly chart. So I don’t understand your comment
Time frames
- Thread starter KGTrader4
- Start date
but you to have some basis for looking at say, a daily, vs a weekly chart. So I don’t understand your comment
Isn’t monthly more for longer term investments?
It is and it's not. When you think that you found something for potential swing, you go deeper.
Daily time frame for me and I look at the last 6 months. That should be enough. Sometimes, I will look at the Weekly time frame too. I swing trade and trend follow stocks only. For the most part, Daily time frame work for me. Trends last longer than most traders think so, makes sense to ride it as long as it is intact.
Monthly weekly daily for major S/R Lines, as far back as the chart goes.
Zoom in on daily charts to fit in as much price action as you can but so you can see every individual candle.
Draw lines on that too.
If you're the type of trader that keeps a position open for 1 month, consider what has been happening for the past 2 or 3 months when making your mind up about if market is buy or sell.
Big picture, small picture
If big picture looks like its overall up, wait for selling in the small picture ie pull back.
Use 4hr and 1hr charts to fine tune entry points.
draw S/R lines in a different colour to remind you that they are the much smaller picture and hold less weight than monthly weekly daily S/R lines (thats if other lines show when drilling down through charts in your charting software)
Zoom in on daily charts to fit in as much price action as you can but so you can see every individual candle.
Draw lines on that too.
If you're the type of trader that keeps a position open for 1 month, consider what has been happening for the past 2 or 3 months when making your mind up about if market is buy or sell.
Big picture, small picture
If big picture looks like its overall up, wait for selling in the small picture ie pull back.
Use 4hr and 1hr charts to fine tune entry points.
draw S/R lines in a different colour to remind you that they are the much smaller picture and hold less weight than monthly weekly daily S/R lines (thats if other lines show when drilling down through charts in your charting software)