moonchild
VIP Contributor
In Forex we take trades based on the signals we get from our charts, if we see the bullish in control we enter a buy position and when the bearish are in control we enter a sell position but another important variable that also contribute in taking trading decisions is the timeframe, it helps us to navigate through the markets through different time frames, for example those that are interested in scalping which is basically holding positions for a short time before exiting, the timeframes you should focus on are the lower time frames.
Also if you like to hold trades for a very long time then you have to go to higher time frames like four hours to eight hours timeframe.
As a beginner, it's advisable to focus on higher time frame because they don't have much noise and you spot a good structure and also take your trades without any fear of break of structure.
Also candlesticks are different and hold more data depending on the timeframe.
One candlestick on four hour holds four hour worth of data, while five minutes candle holds five minutes worth of data, so the higher the timeframe the more solid the market structure is.
Also if you like to hold trades for a very long time then you have to go to higher time frames like four hours to eight hours timeframe.
As a beginner, it's advisable to focus on higher time frame because they don't have much noise and you spot a good structure and also take your trades without any fear of break of structure.
Also candlesticks are different and hold more data depending on the timeframe.
One candlestick on four hour holds four hour worth of data, while five minutes candle holds five minutes worth of data, so the higher the timeframe the more solid the market structure is.