What time chart do you use for your Forex trading?
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Thread: What time chart do you use for your Forex trading?

  1. #1
    matrry1 is offline Newbie
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    Question What time chart do you use for your Forex trading?

    Just wanted to get some feedback on which time chart do you use for your trading? I personally use the hour and 4 hour charts. What time charts do you use and explain why? Thanks folks!

  2. #2
    wrtm_19's Avatar
    wrtm_19 is offline FX-Men Honorary Member
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    Mostly 1 hr and 4 hr
    Often 30 min, 8 hr
    Daily once in a while

    Why?

    Because I look for chart patterns and that's all I need, this way I can see the whole picture and no need tons of timeframes.

  3. #3
    rhodytrader's Avatar
    rhodytrader is offline FX-Men Honorary Member
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    You really shouldn't be asking others what chart periods they trade. Only you can decide that for yourself. First you suss out your trading timeframe, and then you figure out from there what chart periods to use to generate the types of trade that match timeframe based on the methodology you employ.

    It all has to go together because if you're intending to be a day trader using hourly charts, but have a system that produces swing timeframe trades it's not going to workout very well for you. Similarly, if you're looking to swing trade off daily charts but have a method that produces intraday trades you're in a bind.
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  4. #4
    forexpro1 is offline Newbie
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    One of the golden rules of forex trading is that you should always trade in the same direction as the overall trend.So for instance, if the GBP/USD pair is in a strong upwards trend on the 4 hour and daily charts, then you ideally want to be looking to open long positions on the 1 hour chart so that you are trading with the trend rather than against it. It is often fairly easy to spot price trends simply by looking at basic price charts. However there are also a few tools you can use to help you find forex pairs that are in strong trends right now, to save you the hassle of scanning the charts of all the major currency pairs.
    gp00053 likes this.

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