What are the ideal candlestick timelines?

[pagetrade]

HI Guys

I wanted to get everyones view on what the ideal candlestick timelines were when trading. I realise that i have to have a number of different charts with different timelines for the same index as i can then see different trends which may be more apparent on a longer timeline chart than a shorter one.

However, i wanted to know what the best timelines to use were? My predominant chart i use has a 1 min candle. However i have been told that this is too short a timeline and that alot of what i will be seeing is just "noise".

Therefore, can someone tell me the three best timelines to use in order for the charts to be most effective. Just to let you know i trade the FTSE 100 Index and the S&P 500 in case this makes a difference!

Cheers

 

[davidh1819]

HI Guys

I wanted to get everyones view on what the ideal candlestick timelines were when trading. I realise that i have to have a number of different charts with different timelines for the same index as i can then see different trends which may be more apparent on a longer timeline chart than a shorter one.

However, i wanted to know what the best timelines to use were? My predominant chart i use has a 1 min candle. However i have been told that this is too short a timeline and that alot of what i will be seeing is just "noise".

Therefore, can someone tell me the three best timelines to use in order for the charts to be most effective. Just to let you know i trade the FTSE 100 Index and the S&P 500 in case this makes a difference!

Cheers

4 hour, daily and weekley charts thats my opinion anything less wont give you a very good idea about what is happening.

 

[pagetrade]

Ok thanks David

 

[rathcoole_exile]

you don't need TFs and you don't need Candles

 

[Hilarymannah]

you don't need TFs and you don't need Candles

 

[fihunts]

My personal taste is 1 or 4 hour candles.

I primarily look for 5 bar fractal pattern to form where the fractal being a doji with a very tall wick.

If you are scalping, which that sounds like what you are doing, you are pretty much on your own. You might ask somebody that scalps pips to get a strategy.

*edit* Like right now, the EurUsd its forming a 5 bar fractal, no doji, but a reversal in the works on the 1 hour chart.
*edit2* Maybe not a reversal, but a retrace. sorry bout that.
*edit3* Take a look at AudUsd, its doing something similar.
*edit4* EurUsd also creating a new support level i believe.

 

[Chartsy]

1hr,4h,daily

 

[robster970]

5min, 8hr

 

[adamscj]

For intraday FX, 5min does it for me.

Anecdotally I believe the "time value" of information in the FX market is about 5mins, i.e. that any new information that becomes available takes about 5 minutes before it is picked up and fully disseminated throughout the market

This is obviously completely unscientific and I'm sure people with provide a multitude of examples like NFP where the market react in milliseconds...but I'm talking about the general case.

 

[fihunts]

My understanding is that the "Banks" dictate the direction of the day based off of interest rates, unemployment and other stats. I'm just here to pick up scraps like a lil ole dog.