Why Should You Look at Multiple Time Frames When Trading Forex
Before discussing how to use multiple time frames for forex trading, we need to know why you need to look at multiple time frames when trading forex. So far, you may not have difficulty analyzing market conditions with only one type of chart because you already have a lot of indicator tools and qualified experience as a forex trader.
Okay, now let's talk about the game that we call opening a BUY (LONG) or SELL (SHORT) position so you are also advised to learn more.
The rules of the forex trading game are actually very easy, that is, you look at the price movement chart of a currency pair and then open a BUY or SELL position, that's all. How are you ready to play?
Take a look at the price movement of the EUR/USD currency pair with a time frame of 10 minutes on June 20, 2021(20/06/2021) at 1:00 am GMT. We get 200 SMA which acts as resistance.
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