Hi Everybody,
As I said in the post below, FOREX is best on the longer term charts. However, for the more Advanced Traders among you, you can consider shorter-term charts “only” when it “fits in” with the larger degree chart “and” the pattern is “clear”.
Here is a good example on the GBPJPY again, this time using the 15min Chart. BUT the big difference here is that we have “confidence” that a important low is now in place on the “larger degree Charts, therefore a rally is anticipated on this short term 5min Chart.
“Ideally” a rally into the DP that coincides with the Typical Wave 3 WPT would be perfect, but we will have to wait and see....
Again the best time frames for FOREX are normally 60, 240, 480 and Daily..............
Thanks
Steve
As I said in the post below, FOREX is best on the longer term charts. However, for the more Advanced Traders among you, you can consider shorter-term charts “only” when it “fits in” with the larger degree chart “and” the pattern is “clear”.
Here is a good example on the GBPJPY again, this time using the 15min Chart. BUT the big difference here is that we have “confidence” that a important low is now in place on the “larger degree Charts, therefore a rally is anticipated on this short term 5min Chart.
“Ideally” a rally into the DP that coincides with the Typical Wave 3 WPT would be perfect, but we will have to wait and see....
Again the best time frames for FOREX are normally 60, 240, 480 and Daily..............
Thanks
Steve
