The Importance Of Using Multiple Time Frames

Day trading is a popular form of trading that involves buying and selling securities within the same trading day. It is a fast-paced and exciting activity that requires a high level of skill and expertise. One of the most important skills that day traders need to develop is the ability to understand multiple time frames.

Understanding multiple time frames is essential for day traders because it allows them to gain a more comprehensive understanding of the market and make more informed trading decisions. When analyzing the market, day traders look at different time frames, including daily, hourly, and even minute-by-minute charts. Each time frame provides valuable information about the market and can help day traders make better trading decisions.

The daily chart is the most important time frame for day traders because it provides a big picture view of the market. Day traders use the daily chart to identify trends and major support and resistance levels. By analyzing the daily chart, day traders can determine the overall direction of the market and make trading decisions accordingly.

The hourly chart is the next time frame that day traders look at. It provides a more detailed view of the market and allows day traders to identify intraday trends and key support and resistance levels. By analyzing the hourly chart, day traders can get a better understanding of the short-term movements in the market and make more accurate trading decisions.

Finally, day traders also analyze minute-by-minute charts to get a real-time view of the market. This time frame allows day traders to identify short-term trends and make quick trading decisions. Minute-by-minute charts are especially important for day traders who engage in scalping, a trading strategy that involves buying and selling securities within seconds or minutes.

Understanding multiple time frames is important for day traders because it allows them to see the market from different perspectives. By analyzing different time frames, day traders can get a more comprehensive view of the market and make better trading decisions. For example, if the daily chart shows an uptrend, but the hourly chart shows a downtrend, day traders may decide to wait for a clearer trend to emerge before entering a trade.

Bottom line, understanding multiple time frames is essential for day traders who want to be successful in the market. By analyzing different time frames, day traders can gain a more comprehensive understanding of the market and make more informed trading decisions. Whether you are a beginner or an experienced day trader, mastering the skill of analyzing multiple time frames is crucial for your success.

You Must Learn To Use Multiple Time Frames

Emini Live Training Room - Multiple Time Frames

Members Only will now have access to 2 Live Training Rooms.

Watch this Broadcast complete with charts at YouTube.com/CFRN.

In the original room, we will continue to teach our underlying strategy as a mechanical method. In the new room, Valerie and DeWayne will teach you how to trade the Alerts using Multiple Time Frames. In the process, you will learn to find these very same, high probability, low risk, trade opportunities.

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Emini Live Training Session - Multiple Time frames

Trading Emini Futures w/ Multiple Time Frames

(QQQ)(DIA)(SPY)(TSLA)(NKE)

by DeWayne Reeves

Learn to Trade Emini Futures w/ Multiple Time Frames

Today's Co-host: The Armchair Historian - Burwell Pike

Today's Topic: Multiple Time Frames

 
Burwell delivered a brilliant presentation on the effective use of Multiple Time Frames from Yearly, all the way down through Quarterly, Monthly, Weekly, Daily, even down to a 1 Minute Chart.

Markets are Fractal by nature and Burwell delivers an objective look that can be appreciated by market veterans yet clearly understood by a market novice. 

 In September 2012, we wrote an article Mastering Multiple Time Frames for Emini Futures. If you watch Burwell's presentation in the video below, and also refer to the article from 2012, you will be in a better position to take advantage of both longer term multi-day swing trades as well as intra-day trades in the Emini markets. 

A great analogy is that of the Blind Men and the Elephant.  While this story has nothing to do diectly with Trading Emini Futures, it does however convey quite clearly the importance of seeing the whole picture. In various versions of the tale, a group of blind men (or men in the dark) touch an elephant to learn what it is like. Each one feels a different part, but only one part, such as the side or the tusk. They then compare notes and learn that they are in complete disagreement.

 Unless we "see" the "big picture", our trading is akin to flying blind no matter whether we are swing trading or day trading emini futures. Take a moment to read the elephhant story, review our previous article on Mastering Multiple Time Frames and finish up with Burwell's presentation which starts at the 90 minute mark.

Trading w/ Multiple Time Frames
Burwell Pike

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Emini Futures and Multiple Time Frames

Mastering Multiple Time Frames For Emini Futures

All markets can and should be viewed on multiple time frames. Becoming overly focused on just one time frame will result in tunnel vision. Always be aware of what is happening on higher time frames or you may very well stumble into the - Tick Vortex.

Mastering Multiple Time Frames For Emini Futures Trading

Chart analysis works best when several time frames are combined to identify important swing points and breakouts. Although we are using the term "Time" as a point of reference, you will also find that Tick and Volume charts will help you develop a multi-dimensional view of what is transpiring in the market. Once a short-term trader identifies the larger picture of support and resistance, trading opportunities then come from projecting how the next few ticks, minutes or hours of market action will unfold.

As you become skilled at understanding the bigger picture you will be able to locate good setups by reading reversal and breakout patterns inside short periods of cyclical market movement. When we first look at an hourly, daily or weekly chart, we might think, "There is nothing here to help me with my smaller time frame intraday trading“. The indications may not be very clear at first so we need to literally step inside the larger candle and see exactly how it was built. Looking at the same candle or price bar on an intraday chart will give you the missing information you need. 

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