Trading strategies & Time frames

Hi guys, currently trading in Oanda’s demo account, im wondering whether trading bounce backs or falls from support and resistance levels is specific to a certain time frame? Any advice would be greatly appeciated! :slight_smile:

The big players in forex, the international banks, make price move. They are no doubt watching every pair in every time-frame and seeing every conceivable support and resistance. Whether it make any difference to what they then go ahead and do, buy or sell, cannot be known. However, people who watch charts say that longer-time-frame s/r levels have more power - daily, weekly, monthly - than anything intra-day.

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Thanks @tommor much appreciated!

As @tommor mentioned, usually the higher the timeframe, the ‘stronger’ the confirmation of a zone being broken or rejected. When you say falls/bounce backs, do you mean fakeouts and breakouts?

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The price moves depend on the international banks and other big players in forex.

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@sixeight Yes sorry i was referring to fakeouts and breakouts still getting used to the forex lingo :sweat_smile: But thanks for the advice.

Thanks a lot @tommor I have been watching the longer time frames with not having time to watch the shorter ones due to working full time!

As far as I know, there are a lot of effects of the international banks over the price and they pretty much keep an eye on the time frames of different pairs.

It really happens on all timeframes. The only difference is the time needed to make that move. The key is to know when there is higher chance that certain support/resistance will hold. So timeframes doesn’t matter as much. But you need to chose your timeframes based on your trading style, not based on moves on certain timeframes. Check out my course TheIntelligentTrader dot com if you want to learn more about this and my strategy.

Why not post at least an outline of your strategy on this site rather than trying to drive BP users to another site?

Because there are people who think they can glue their “trading system” from some bits of free advice found online from multiple sources. Well good luck with that. I have video in my membership site which is an overview of my strategy so that people can understand the concept and what they learn throughout the course. Just that video is 10 or 15 minutes long. It would take too long to explain in here. Plus it’s my 9 years of experience and I value it.

Thanks for this, I think you’ve made your position clear.

Which is that you won’t be outlining your strategy, you won’t be issuing free advice, but you want to use babypips to recruit fee-paying membership to your own site so you can sell your knowledge there.

Now I happen to think there’s nothing wrong with being paid for one’s own efforts and hard-earned experience, though many people will say the guys who sell training are clearly not the best traders or else they’d be making enough money from trading.

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Only the big players in the market are able to move prices in the market. Otherwise, it is just the supply and demand. Instead of watching each currency pair on every time frame, pick a time frame that you think you will be able to make use of the best. This way, you can overlook the confusion that can be caused because of different time frames.

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Hey there, support and resistance levels are definitely not static. A change in the stock price, and they are bound to break sooner or later.

No time frame is certain. However, the higher time frames are, the better chance that the price may react around them. One thing you may try which is combining two time frames such as Weekly-Daily, Daily-H4, H4-H1, H1-15M etc. As an example for Weekly-Daily combination, you spot out support/resistance on the weekly time frame, then look for trading opportunities on the daily time frame.

If the price must rise,it will rise anyway,if it rises on m1 it doesnt mean on H4 or Daily it wont rise.
Time frame is just an indicator ,in case you didnt know. In real market there are no such things as time frames or lines or anything else,there is only price, buyers and sellers,thats all.
The first ever chart that apeared was in 1890 ,made by a man. His goal was to have a more view on whats going on ,rather than what is happening right now. After 1 year he decided to add time frame to it,in order to see both at the same time:whats happening now on lower time frame such as M1 M5 and whats going on on higher scale such as H4 Daily.
But trust me,if u find suport (reall suport Area,not your line on chart) price will rise no matter what time frame you watch. And vice versa for ressistance area,not line :slightly_smiling_face:

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Sooooooo True… and then they teach the things they lost money doing Ha Ha ha

:rofl:

Sometimes I think that these people that pay these random mentors for worthless mentoring services, I sometimes begin to suspect that they are really just closeted pay pigs.


Hey, is anyone watching GBP/ USD? it’s about to test the level of support again for the 6th time since the beginning of the year and each time it has hit that level of support it has rallied for some time. What is the community’s opinion on this pair for today or this week? I have posted this in a few topics, and no one has replied. Could I please have a bit of guidance on how to proceed if it does retest the level of support.

I’m bearish on this pair right now. In fact, I opened a short position last night:


But as you can see price is at a fairly strong S level on the daily as well, so you might see a pullback.

What sold me was the weekly chart where price broke through my weekly support level:


I’ll be short long term, unless I’m stopped out, of course.