Good day to everyone.
I have decided to share with everyone this multiple timeframe analysis sheet that I have been using. I have used it to plan my trades and to get a better picture of what is happening to a particular pair based on what is happening on the various time frames.
One important thing that I have learned from experience is that a trader should never trade based on one time frame. This is especially true of the it is a time frame below 15 minutes. The market can take you out easily on this by showing an uptrend on the lower time frames and enticing you in. However, the longer time frame rules and we should therefore take a look at the bigger time frames like the dailies and the 4 hour chart. Also, I have different ways to look at the different time frames. It basically has its own characteristic and can tell you the market psychology of the particular pair.
I hope my sharing of my multiple time frame analysis can help you.
To your trading success!
Singapore Forex Traders Blog