Learning to use multiple time frames is one of the hurdles that technical investors and traders have difficulty to overcome.
Charts are like pictures that tell a story about a trip. The trip can be higher, lower or standing in place (sideways).
Along the trip, prior stopping points can be seen on the map/chart called support and resistance.
The story leads to a place on the chart where you have to make a decision about the next direction that prices will go.
That place is called “The Hard Right Edge,” where you have to put together the pieces of the story to make that decision.
In a technical-analysis based method of investing and trading, the map or chart does not have you decide the endpoint, so there is no guarantee of getting there.
At times, it isn't easy to decide and, if you cannot, then stand aside.
When you view the story in multiple times frames, the picture can become a maze of confusion — especially if you place roadblocks in your way that detour you from seeing the true path like indicators and trend lines.
At Master Trader, we use simple analysis without all the noise of indicators, various lines that connect dots to imaginary reference points of support or resistance, etc.
One way that Master Traders use Multiple Time Frames
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Trading the Pristine Method — Origin and End
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