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The sixth lesson in a series on technical analysis for active traders of the forex market, futures market, and stock market.
We should now have a good understanding of how to spot trends in the forex market, stock market, and futures market. Now lets tie everything together we have learned thus far with the final concept of this series, Multi Time frame analysis.
No matter what time frame you end up using as a trader or what time frame a particular strategy calls for, it is important always to have a big picture overview of what is happening in the market. Although there are exceptions, in general most traders will tell you that if your trade setup or analysis lines up on multiple time frames, then the odds of being correct are greatly increased.
Duration : 0:3:42
[youtube s3DWyLHZa-Y]
Where do you get …
Where do you get those charts from?
Excellent analysis. …
Excellent analysis. For carry trades put a lot of emphasis on the weekly charts.
can we make 1000$ …
can we make 1000$
everday
Nice,But I like to …
Nice,But I like to trade with free EA
I want to trade for …
I want to trade for a period of about a month or so..
what charts should I look at….
Trend is your …
Trend is your friend.
It’s funny how you …
It’s funny how you have such an American accent but you look sooooo British…teehe..
Well since we are …
Well since we are still above the downtrend line we can only assume that there will be demand once we reunite with the actual trend line. If not then we could see a break of the trend but until then there is no reason to assume the trend will break.
-Brendan
At 2:25, how do you …
At 2:25, how do you know whether that it will continue to bea strong uptrend, or whether that small vertical line in the top right hand corner marks the start of a downtrned?
Hey TheProphiting1, …
Hey TheProphiting1,
This is true. In my day trading I always look at a 5 min chart, and occasionally at a 1 min chart and at the daily chart.
For longer term trading I would suggest a 60 min chart and a daily chart or possibly a 15 min chart.
-Brendan
A 5 min chart would …
A 5 min chart would work for a scalper if the price action/volume were enough in that time frame, however, if you are a long term trader you would want to look at a longer time frame to base your investment on.
I’ve recently taken …
I’ve recently taken a relatively modest position on LSE: LLOY based on support line analysis and news coming out about Gov’t toxic asset insurance (confirmed Friday night). I’m expecting the price to break out on Monday and want to identify a good exit point. Any advice would be greatly appreciated.
when I trade, I …
when I trade, I want to know the company and I want to see at least a yearly chart
Hi Dave,
Thanks …
Hi Dave,
Thanks for taking time to reply. Can’t thank enough for sharing valuable insight and knowledge.
Regards,
lr
Thanks for the …
Thanks for the comment. You can always go short however I personally prefer to trade with the longer term trend even when trading shorter timeframes as I feel that this ups my chances for profits. I do not personally scalp the market however if I were going to do this I would focus on the 5 and 1 minute timeframes. Best Regards, Dave
Hi Dave,
Amazing …
Hi Dave,
Amazing work. You mentioned below in your comments that your bias would be for going long. Since the 5 minutes and hourly charts are trending down i should be able to go short for a scalping trade correct? By the way you mentioned in an earlier video that day traders look for the daily charts and lesser time frame(1 hour, 15 minutes etc) charts. So my question is for scalping what time frame you take into account?
Thanks,
lr
since the long term …
since the long term trend is higher my bias would be for long trades in this example. Best Regards, Dave
Hi Dave,
In this …
Hi Dave,
In this example, what did you conclude? Bias with Long or Short trades?
Thanks.
IM SO HORNY!! any1 …
IM SO HORNY!! any1 want 2 cyber?? my MSN messenger is in my profile. f
Hi Jyoti, My …
Hi Jyoti, My pleasure thank you for the comment and for watching. Best Regards, Dave
Dave,
Your lessons …
Dave,
Your lessons are simple and effective. Thanks for sharing the knowledge.
Regards
Jyoti
Hi Waterpig916, …
Hi Waterpig916, Good to hear from you again. I prefer to have an understanding of what is going on from a fundamental standpoint and place trades based on technicals. Best Regards, Dave
Thank you very much …
Thank you very much. I was instructed to prepare for this knowledge by monday. My ceo believes wants me to train to do more techinical analysis. Do you prefer fundamental or technical? Cheers.
Hi Waterpig916, I …
Hi Waterpig916, I am going to email you a link to a list of such books to your youtube account. Best Regards, Dave
Hello, its me again …
Hello, its me again. I was wondering if you know any good references online or books for statistical analysis in indexes; specifically in correlation matrix and standard deviation. Thank you in advance.