6. Day Trading Lesson 6: Multi Time Frame Analysis

[MrGrifut]

What do they mean when they talk about a stock is trading 3 time it multiple

[MrGrifut]

What do they mean when they talk about a stock is trading 3 time it multiple

[Nicarider182]

The trend is your friend.

[freeSCALPINGindicato]

Scalping is much easier...

[missrosetejano]

so why is it important to look at a 5 min chart?

[Giantsbran1227]

Where do you get those charts from?

[LitheInvestments]

Excellent analysis. For carry trades put a lot of emphasis on the weekly charts.

[6448595]

can we make 1000$

everday

[FreeFOREXautoROBOT]

Nice,But I like to trade with free EA

[amalmakwana]

I want to trade for a period of about a month or so..

what charts should I look at....

[thfiv]

Trend is your friend.

[valeagrl1]

It's funny how you have such an American accent but you look sooooo British...teehe..

[gowiemeister]

At 2:25, how do you know whether that it will continue to bea strong uptrend, or whether that small vertical line in the top right hand corner marks the start of a downtrned?

[InformedTrades]

Well since we are still above the downtrend line we can only assume that there will be demand once we reunite with the actual trend line. If not then we could see a break of the trend but until then there is no reason to assume the trend will break.

-Brendan

[TheProphiting1]

A 5 min chart would work for a scalper if the price action/volume were enough in that time frame, however, if you are a long term trader you would want to look at a longer time frame to base your investment on.

[InformedTrades]

Hey TheProphiting1, This is true. In my day trading I always look at a 5 min chart, and occasionally at a 1 min chart and at the daily chart.

For longer term trading I would suggest a 60 min chart and a daily chart or possibly a 15 min chart.

-Brendan

[darthstarwarsgeek]

I've recently taken a relatively modest position on LSE: LLOY based on support line analysis and news coming out about Gov't toxic asset insurance (confirmed Friday night). I'm expecting the price to break out on Monday and want to identify a good exit point. Any advice would be greatly appreciated.

[lti12]

when I trade, I want to know the company and I want to see at least a yearly chart

[lachuz]

Hi Dave,

Thanks for taking time to reply. Can't thank enough for sharing valuable insight and knowledge.

Regards,

lr

[lachuz]

Hi Dave, Amazing work. You mentioned below in your comments that your bias would be for going long. Since the 5 minutes and hourly charts are trending down i should be able to go short for a scalping trade correct? By the way you mentioned in an earlier video that day traders look for the daily charts and lesser time frame(1 hour, 15 minutes etc) charts. So my question is for scalping what time frame you take into account?

Thanks,

lr

[InformedTrades]

Thanks for the comment. You can always go short however I personally prefer to trade with the longer term trend even when trading shorter timeframes as I feel that this ups my chances for profits. I do not personally scalp the market however if I were going to do this I would focus on the 5 and 1 minute timeframes. Best Regards, Dave

[jforex78]

Hi Dave,

In this example, what did you conclude? Bias with Long or Short trades?

Thanks.

[InformedTrades]

since the long term trend is higher my bias would be for long trades in this example. Best Regards, Dave

[bavarikudum]

Dave,

Your lessons are simple and effective. Thanks for sharing the knowledge.

Regards

Jyoti

[InformedTrades]

Hi Jyoti, My pleasure thank you for the comment and for watching. Best Regards, Dave

[waterpig916]

Hello, its me again. I was wondering if you know any good references online or books for statistical analysis in indexes; specifically in correlation matrix and standard deviation. Thank you in advance.

[InformedTrades]

Hi Waterpig916, I am going to email you a link to a list of such books to your youtube account. Best Regards, Dave

[waterpig916]

Thank you very much. I was instructed to prepare for this knowledge by monday. My ceo believes wants me to train to do more techinical analysis. Do you prefer fundamental or technical? Cheers.

[InformedTrades]

Hi Waterpig916, Good to hear from you again. I prefer to have an understanding of what is going on from a fundamental standpoint and place trades based on technicals. Best Regards, Dave

[eshmaloner]

Learning a lot here. Do you know of any free or cheap good charting software that I should get?

[bcaddowyoung]

Thankyou for your advice,

I have a q. When looking at double tops and bottoms does the support and resistance lines have to be a straight line across? Or can it be slightly upward or downward?

[InformedTrades]

Hi Bcaddowyoung, Thanks for the comment. I think most traders would agree that the support and resistance lines do not have to be straight across but can be slanted upward or downward. In a double top I think most would agree if the support and resistance lines are slopped downward this is a stronger pattern than a flat or upward sloping lines would represent and the reverse goes for a double bottom. Best Regards, Dave

[meta2040]

great

[cameo747]

Very good

thanks for sharing the knowledge, well actually thanks for educating : )

[InformedTrades]

my pleasure thanks again for the comments. Best Regards, Dave