So, I’ve been trading forex for a while now and use mainly price action/candlestick patterns. My question is, what TF’s do people like to use, obviously it will depend on how much time you have available to dedicate to trading but I’m just curious.
Personally I like to use the 15m TF, I find that any smaller TF’s generate a lot of false signals, whereas 30m TF normally leaves me missing out on that initial strength of the move. It also helps that I’m a uni student who has a fair amount of free time to dedicate to aimlessly staring at charts.
Looking forward to hearing your opinions.
The timeframe you look at will depend entirely on the traders given strategy imo…
But generally, a wider timeframe shows you more of the general trend, but a closer timeframe is where most traders go for, for their entries. One thread i have started following recently in the Newbie Island forum, is Petefaders thread on VSA, S/R, fibbs etc - he regularly goes as low as to trade off the 5m TF - and does so very well. He does this to fine tune his entry to usually off 1H TF he had been following.
Obviously the lower the timeframe, the more background noise there is. So i think it all depends, trade what you find most comfortable for you - because no doubt what is comfortable for us, and what is comfortable for others may be completely different…