TECH ANALYSIS: TIMEFRAMES please help

This is a discussion on TECH ANALYSIS: TIMEFRAMES please help within the First Steps forums, part of the Reception category; Dear Community, I have just finished reading the book: Profiting With Forex I enjoyed their part on technical analysis and ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Aug 7, 2012, 2:57pm   #1
Joined May 2012
TECH ANALYSIS: TIMEFRAMES please help

Dear Community,

I have just finished reading the book: Profiting With Forex

I enjoyed their part on technical analysis and watched a few further youtube videos to reinforce what I have learned.

My question is simple, I have been browsing charts for 1 minute/5 minute/hourly and daily. All 4 have different trends, they have different support/resistance lines, they have different reversal patterns and indicators.

How can I effecively place trades on ONE chart when I know the other chart is indicating the opposite??!? I am at a completel loss because from my standpoint no matter which way I choose I am screwed.
Alexander0884 is offline   Reply With Quote
Old Aug 7, 2012, 3:11pm   #2
Joined Dec 2004
Re: TECH ANALYSIS: TIMEFRAMES please help

You need to pick the time frame which suits you best and work from that base. It's that simple. You can use slightly higher and lower time frames for context, but if you bounce around you'll just drive yourself to distraction.
__________________
John Forman
Author - Trading FAQs, The Essentials of Trading
Rhody Trader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Aug 7, 2012, 3:21pm   #3
Joined May 2012
Re: TECH ANALYSIS: TIMEFRAMES please help

Alexander0884 started this thread Dear Sir,

Is there a consolidated guide/book that would inform me of how to effectively perform technicall analysis over several timeframes and what to look out for? Perhaps some advice, I understand the concept of looking at the general long etrm trade, supportand tying that back to the shoter timeframe to get a feel of a good entry position. Etc. However I wish to learn "all the tricks" before I play with the cards.

Maybe anyone came across such a guide? Specific performance indicators or perhaps even some tool/instrument that I could use?
Alexander0884 is offline   Reply With Quote
Old Aug 8, 2012, 5:51am   #4
 
DionysusToast's Avatar
Joined Dec 2009
Re: TECH ANALYSIS: TIMEFRAMES please help

Timeframes don't matter at all. What matters is where the market has been, what it did before, where it's trying to go and your assessment on how good a job it is doing of getting there.
__________________
I cannot see., however why we should expect to find a "system" which will work in the stock market; surely the possibilities of profits for the student justify the time and effort required to learn market interpretation.

Humphrey B Neill - 1931
DionysusToast is offline Software vendor   Reply With Quote
Old Aug 8, 2012, 1:00pm   #5
 
neil's Avatar
Joined Nov 2001
Re: TECH ANALYSIS: TIMEFRAMES please help

Quote:
Originally Posted by Alexander0884 View Post
Dear Sir,

Is there a consolidated guide/book that would inform me of how to effectively perform technicall analysis over several timeframes and what to look out for? Perhaps some advice, I understand the concept of looking at the general long etrm trade, supportand tying that back to the shoter timeframe to get a feel of a good entry position. Etc. However I wish to learn "all the tricks" before I play with the cards.

Maybe anyone came across such a guide? Specific performance indicators or perhaps even some tool/instrument that I could use?
Read the "Three Ducks" approach on T2W.
Have a look at James16 thread on Forexfactory.

So- plenty of reading and practice for you. And, of course, you can demo before committing real cash
__________________
neil
....Indicators show the past. Price Action "Indicates" the future.
neil is offline   Reply With Quote
Old Aug 8, 2012, 1:28pm   #6
NVP
 
NVP's Avatar
Joined Jun 2004
Re: TECH ANALYSIS: TIMEFRAMES please help

Check out Lance Beggs on Price action trading..............hes the best I've ever worked with

This is basicially part of Market/Timeframe Structure

In my own opinion use a Max of 3 TF levels..and decide what you are going to do

Fade the Highest TF trend
(ie trading it's (possible) retracement using opposing lower TF Trend signals)

Trade the highest TF trend
(ie trade the lowest TF's in same direction as the Highest TF Trend)

Remember the highest TF looks great in a Trend mode....... but that very next reversing bar on the lowest TF could be the first step to total reversal of the higher TF trend.........

you are only as knowledgable as the last Bar....

thats it .......
N
__________________
Trading Forex strengthmeters for over 14 years and happy to help ! What is a Forex Strengthmeter ? http://www.trade2win.com/boards/fore...rs-basics.html The FXCorrelator - All my Indicators & simple systems http://www.trade2win.com/boards/fore...ml#post2197030My Profile - http://www.trade2win.com/articles/19...er-profile-nvp
NVP is offline Coach/Trainer   Reply With Quote
Old Aug 8, 2012, 1:34pm   #7
NVP
 
NVP's Avatar
Joined Jun 2004
Re: TECH ANALYSIS: TIMEFRAMES please help

Quote:
Originally Posted by neil View Post
Read the "Three Ducks" approach on T2W.
Have a look at James16 thread on Forexfactory.

So- plenty of reading and practice for you. And, of course, you can demo before committing real cash
agreed

Andy is a great mentor and the 3D's is a nice simple approach that is very effective

James16 is a legendary thread and is worth the effort of reading ...........even if to see how nice guys can finish first !

N
__________________
Trading Forex strengthmeters for over 14 years and happy to help ! What is a Forex Strengthmeter ? http://www.trade2win.com/boards/fore...rs-basics.html The FXCorrelator - All my Indicators & simple systems http://www.trade2win.com/boards/fore...ml#post2197030My Profile - http://www.trade2win.com/articles/19...er-profile-nvp
NVP is offline Coach/Trainer   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
ninja tech. analysis aaronz First Steps 0 Feb 20, 2009 6:16pm
Charts Tech Analysis NickThePip Technical Analysis 2 Jan 16, 2009 12:58am
Best Tech Analysis site? brandoni Educational Resources 10 Nov 10, 2008 3:04pm
QQQQ Analysis in Multiple Timeframes T2W Bot Educational Resources 8 Apr 17, 2005 10:54pm
tech analysis book? blomberg Educational Resources 1 Apr 8, 2004 11:53am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)