Hi Newbie here,
Looking at at Resistence / Support Levels, Patterns, Trends etc from the excellent tutorials on this site… The question I was hoping to get some advice on, is what timeframe should I be looking at for trends… What are other traders doing out there…
The market move’s to quickly on M1, M5 timreframes, so I was thinking a M15, M30 is best for looking for a trend or is this to late ??
Advice Welcomed.
Cheers,
S
trends are estabished over time, the higher the TF the more reliable is the trend, Many recommend that novice traders should not trade less than 1hr chart
If you are trading the 5m, 15m or similar time frame trend you are in fact not trading trend but noise. If intraday trading look to the day chart to establish the real trend (try putting up a 20:2 bollinger band if its not immediately obvious). Next choose a time frame that you are comfortable with to actually trade the longer day trend direction. I would suggest 1h or 4h initially.