So now you’re done! Now you can add multiple time frame analysis to your forex trading toolbox! Using multiple time frame analysis allows you to: Get a bird’s eye view. Here are a few tips you should remember: You have to decide what the correct time frame is for YOU. This comes from trying different time…
At the School of Pipsology, we prefer using three time frames. We feel that this gives us the most flexibility, as we can decipher the long, medium, and short-term trends. Determine Main Trend The largest time frame we consider our main trend – this shows us the big picture of the pair we wanna trade. For example, on…
No, we aren’t about to break out into song like the Glee cast. Here at BabyPips.com, we’ve got our version of a mash-up, which we like to call the “Time Frame Mash-up”. This is where multiple time frame analysis comes into play. This is where we’ll teach you how to not only lock in on your…
Before we explain how to do multiple time frame analysis for your forex trading, we feel that it’s necessary to point out why you should actually flip through the different time frames. After all, isn’t it hard enough to analyze just one chart as a forex trader? You’ve got a billion indicators on, you’ve gotta…
What time frame is best for trading? Well, just like everything in life, it all depends on YOU. Do you like to take things slowly, take your time on each trade? Maybe you’re suited for trading longer time frames. Or perhaps you like the excitement, quick, fast-paced action? Perhaps you should take a look…
One of the reasons newbie traders don’t do as well as they should is because they’re usually trading the wrong time frame for their personality. New forex traders will want to get rich quickly so they’ll start trading small time frames like the 1-minute or 5-minute charts. Then they end up getting frustrated when they…
Multiple. Time. Frame. Analysis. Multi-time frame ana… WHAT?! Chill out young padawan, it ain’t as complicated as it sounds! You’re almost done with high school! Now’s not the time to get senioritis, although you probably got that way back in Grade 12. Ha! Multiple time frame analysis is simply the process of looking at the same…
As you’ve learned, there are many, many trade opportunities presenting themselves in the forex market other than figuring out what the U.S. dollar will do any given day. Now you know how to find them! Here are a couple of things to remember: Crosses give forex traders more pairs to trade, which means more trading…
Let’s pretend the Fed announces they will raise interest rates. The market quickly starts buying the U.S. dollar across all major currencies…EUR/USD and GBP/USD fall while USD/CHF and USD/JPY rise. You were short EUR/USD and were pleased to see price move in your favor making you some pips, but right before you were about to break out the…
Even if you don’t ever want to trade the currency crosses and simply stick to trading the majors, you can use crosses to help you make better forex trading decisions. Here’s an example… Currency crosses can provide clues about the relative strength of each major currency pair. Let’s say you see a buy signal for EUR/USD and GBP/USD but you can…