Forex Trading with Multiple Time Frames
Some may wonder what is multiple time frames and why should we learn to use them in forex trading strategies. Maybe if you are a person who has just struggled with an online trading system still confused but if you are a person who has already plunged into online trading this is usual that prices can be submitted to the chart with several time frames for example monthly, weekly, daily, 15 minutes, and up to 1 minute .
When there are two people who see the price movements of the EUR / USD currency pair using a different time frame for example 4 hours with 5 minutes then the two people will have different perceptions of the price movements of the currency pair.
When using a chart with a 4-hour time frame the indicator shows the right time to open a BUY position but when using a chart with a 5 Minute time frame the indicator shows the right time to open a SELL position. Then where is forecasting right? maybe both are true.
And this is what we will use as a trading strategy in the forex market. But if you do not understand the differences in perceptions above, you may be confused, but calm down, this will be explained in the next explanation.
Do not go anywhere because we will discuss how we will do forex trading using multiple analyzes to determine the best entry points and exit points.