Choosing a low time frame and then processing various short-term forex trading methods is not a mistake, especially if the style fits your condition.
- Time Frame Management
The most important component in short-term trading is choosing a time frame. A short-term trader should focus on a low time frame. However, the unfortunate thing is that even if they are aware of the low time frame, sometimes they are still interested in doing a long-term analysis. They are trying to impose long-term trading methods into low time frames. If you have selected a low time frame, always try to be equipped with a long-term strategy. In selecting a time frame, there is very little time frame danger for technical indicators.
- Contain Bar and Candlestick
This price indicator has 2 main benefits: simplification and basic technical indicators. The first benefit is very important when you get stuck because of too many indicators. For a short-term trader, the simplicity of the technique is important and can’t be ruled out.
Short-term traders are not fundamental traders and big trends are not a top priority. When there is a bearish reversal and the lower-high and lower lows, we as a short-term trader should not be concerned with it. As a short-term trader, your position will not last long enough to feel the impact of major trend changes.
Then with regard to the second benefit, bars are technical indicators that rarely lie. Compared to other indicators that have late signals, with the bar, you can know the market bullish.
Candlestick is more descriptive but not so predictive. He said that candlesticks are very useful for short-term traders who want to get the simplicity of chart pattern analysis.
- Confirm With Indicator
The function of a technical indicator is a confirmatory of a signal bar … Read More ...