60 days, the dow has short term supp about 100 pts lower,so with the shorter term,lets just say that we tag that supp on tues,you catch a 100 pt move,would be happy with that
It depends on what time frame you are trading. For day trading I use the 1-min chart so my analysis is on the next highest time frame -- the 5 min chart. Naturally, I could use 2,3,4 but the 5 is the default on the platform I'm using. For any position overnight I trade off the 60-min and/or dailies so my analysis would be the dailies and/or the weeklies
Then you would choose 'weekly'. To be clear, I'm trying to gauge the longest perspective most people have on the markets. I always thought it would be a very short view, but this may prove to be false. Hence my asking! Then again, I don't know how universally true a poll on ET would be. But hey, it beats arguing about TA.
4 hour trading forex. My stats on EURUSD, presently at 77 weeks, show 43 trades, that's one trade every 8-9 trading days producing about 500 pips/month. Other pairs are similar to trade. I check the charts and trades about twice every day for a few minutes, looking for a signal point. All TA, no fundamental except when there is a FED or ECB happening announced. But in more than 80% of these cases, my trades are already in the right direction. Happy trading, Felix
I was hoping for more votes, but these are still interesting. Maybe in time there'll be more votes. And maybe posting under 'forex' was a bad idea.. . I have to say I'm impressed by the number who use longer term. I was expecting a heavier number on the short term, those who disregard the longer term.
Yeah of course every trader has their own trading style with different time frame and i majority use h4 and in this time frame i had earn good profit. Small time frames are also useful to generate lots of profit in a short time.