Hello traders,
this time I came with an educational post, because on Friday I don't take any trades due to sloppy markets.
Most of the times I see question like how many and what timeframes should you use when trading.
Rule of three timeframes says, that we should use at least two but no more than three timeframes.
Personally, I use W,D and 4h.
Here is how I use 3 TF in my trading strategy:
1) The highest TF should be used for spotting an overall and long-term trend and plotting an important key levels. So I basically do my charting on the W timeframe, identify the trend and plot the key levels.
2) Everyday I start on the D, that's where I do my analysis and what I call my main TF. I use Daily to plot daily structures, identifying the trend from short-term perspective, plot trend lines etc. When I spot a good opportunity in the market, I check W if I am going with the trend
3) After spotting an opportunity on the D, checking if I am with trend, I go to the smallest TF I use-4h. That's where I am looking for a good entry.
Hope this small summary will help you, thanks for stopping by and checking my post!
Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨👩👧👦
Have a wonderful and profitable day! ❤️
- ProfitalzTrading
this time I came with an educational post, because on Friday I don't take any trades due to sloppy markets.
Most of the times I see question like how many and what timeframes should you use when trading.
Rule of three timeframes says, that we should use at least two but no more than three timeframes.
Personally, I use W,D and 4h.
Here is how I use 3 TF in my trading strategy:
1) The highest TF should be used for spotting an overall and long-term trend and plotting an important key levels. So I basically do my charting on the W timeframe, identify the trend and plot the key levels.
2) Everyday I start on the D, that's where I do my analysis and what I call my main TF. I use Daily to plot daily structures, identifying the trend from short-term perspective, plot trend lines etc. When I spot a good opportunity in the market, I check W if I am going with the trend
3) After spotting an opportunity on the D, checking if I am with trend, I go to the smallest TF I use-4h. That's where I am looking for a good entry.
Hope this small summary will help you, thanks for stopping by and checking my post!
Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨👩👧👦
Have a wonderful and profitable day! ❤️
- ProfitalzTrading
