TA tips for a beginner

xmonyx

Newbie
So im trying to learn scalping on the forex markets.
so i usually look at the daily , 4H , 1H , 30min 5min charts.. sometimes i see bullish on the higher timeframes and bearish on the lowers..

so my questions are which timeframe is more correct the highers or the lowers?
whats the best strategy?
the better indicators for scalping? for the lowers timeframes?


the indicators i use are 2x MA and MACD

thankyou in advance! hope to hear some feedback & tips! :)
 

tomorton

Legendary member
Most traders, whether scalpers or not, will use just two time-frames - one for the trade, used to identify your entry points, stop-loss prices, TP levels, probable position duration etc., plus a (significantly) higher time-frame. It can be prudent to make sure that the trading time-frame price trend is the same as the trend on the higher time-frame. Its hard to see how adding a third time-frame would be so useful, though some daytraders say to especially use D1 but just to get highs/lows and support/resistance levels and see if these will conflict with or back up your plan for a trade.

Its hard to see how a fourth time-frame could be useful, but again, some daytraders make it a habit to mark up W1 H/L and s/r levels.

In general., the lower the t/f, the less reliable the TA.
 

ifmcinstitute

Junior member
Technical analysis is a simple mechanism to money-making techniques. The majority of people trade stocks through referrals, thereby, making uninformed decisions. As a results lose money in trades. Nevertheless, practicing trading without formal knowledge is gambling.
 

nunrgguy

Established member
So im trying to learn scalping on the forex markets.
so i usually look at the daily , 4H , 1H , 30min 5min charts.. sometimes i see bullish on the higher timeframes and bearish on the lowers..

so my questions are which timeframe is more correct the highers or the lowers?
whats the best strategy?
the better indicators for scalping? for the lowers timeframes?


the indicators i use are 2x MA and MACD

thankyou in advance! hope to hear some feedback & tips! :)
There are no ‘timeframes’, it’s all the same data, you’re just looking at different levels of data compression.
 
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