eToro – Forex Trading Forum

[peldoman]

Hello,
My name is Henny en iám just starting the forex market.
Who know's , example if i read the candle's sticks from 5 minutes it looks like they
in an uptrend.
But when i put it on 1 hour or 24 hours they show the downtrend.
So my question , what is the best way to read them for making a trade?

regards, Henny

[Admin-Support]

Hi Henny,
I think the best way to answer your questions will be with the help of an account manager.
I will ask one of our account managers to contact you and explain it personally.
Regards,

[twinlam1]

read them in whatever time frame you are gonna trade. That's the only one that matters for you. Choose one time frame and trade it.

[ikay44]

The trend can be very confusing and i want to know if you can program a particular trend time suitable to you and lock it up for example you enter at 12pm when the trend seems to be going up and set to exit at 12.30pm and collect whatever profit or loss accrued. I need an advice as a newbie.

[01Bob73]

Presently, I am daytrading the emini Dow, but I think the same GENERAL rules apply to most markets. My setup includes the following charts: 60 min, 15 min, 3 min, 1 min, and 89 tick. The 60 min and 15 min each have a 5 period and 20 period simple moving average. If the 5 period sma is above the 20 period sma on both charts, the day is considered in an uptrend. If both 5 period sma's are below the slower sma's, it is a downtrend day. If the 2 charts are not the same, it's a choppy, sideways day

[01Bob73]

continued>>>> If I were to trade on a different time frame, say daily, I would setup similar charts on longer periods, perhaps a 3 day chart and a one week chart. Or weekly and monthly charts, but with the same 5 period and 20 period simple moving averages. A linear regression line on a chart also gives a nice directional slant. Learn by playing around in sandbox.

[JOSEPH951]

[quote

="peldoman"]Hello,
My name is Henny en iám just starting the forex market.
Who know's , example if i read the candle's sticks from 5 minutes it looks like they
in an uptrend.
But when i put it on 1 hour or 24 hours they show the downtrend.
So my question , what is the best way to read them for making a trade?

regards, Henny[/quote]