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A three-timeframe trading method: use the highest timeframe to pick direction for the day, the middle one to find key price levels that match that direction, and the lowest one to spot entry signals when price hits those levels.
A three-timeframe trading method: use the highest timeframe to pick direction for the day, the middle one to find key price levels that match that direction, and the lowest one to spot entry signals when price hits those levels.
This is a general tip for any of you guys that are already trading and you have more than a couple of timeframes. Just understand, like, every timeframe has its purpose. For example, in my case, the higher timeframe tells me direction. Do I go long or do I go short for today? Middle timeframe gives me levels at which, hey, when price gets into this level right here, I'll be interested to trade in line with the higher timeframe direction. And then the lower timeframe is where I actually execute the trades. Higher timeframe gives me direction. I'll wait for price to get into a middle timeframe key level. We're in that key level, I go down into the lower timeframe and wait for my execution signals. Once that's present, I enter a trade. And that's a much healthier way for you to think about timeframes, and also a very simple and non-confusing way to think about timeframes.
