First opening a chart

Hey guys, what are some tips that you all use when first opening up a chart?

Well, usually I start my chart analysis through daily time frame! I mainly observe the condition of my trading indicators that I use in live chart! Then I go for H4 time frame with same manner! If I get same direction, then I go for new trade! I am not interested on, lower time frames, as they change market direction for many times!

I made a template of the chart which I customized with my preferred colours for background, candles etc and include indicators I like Stochastic, RSi, Moving Average, so I can add that to any pair that I’m looking at. Saves messing about every time. Then I add highs and lows on daily chart. I usually trade off the 1 hour chart so add a note to remind me which direction I want to take a trade if I see an opportunity emerging. Sometimes in the heat of the moment its easy to make a mistake and not stick to your plan so a little note is handy just to keep you right.

Awesome. Thanks for the replies! :slight_smile:

Economic calendar check is a must imo :slight_smile:
Not only every day, but also more complex before every week start. If you will find some ‘heavy’ news ahead (like ECB conference, FOMC, NFP etc). you can expect lower volatility before the announcement and thiner market in general.

The most basic rule is - does it end on the right higher or lower than where it started in the left? Price is fact - easy to forget once you get sucked into constructs like patterns.