Guest Post by Joshua Martinez, FX Pathfinder
In many cases, novice traders feel the need to pick and choose their go-to timeframe. It seems like this single timeframe approach is a very common mistake made by traders seeking to simplify their trading analysis by what many refer to as ‘zeroing in’.
In reality, limiting your forex trading analysis to a single timeframe (either a long-term timeframe for swing traders or a short-term timeframe for the day trader or scalper) actually limits the scope of the technical analysis research to the trader’s disadvantage. By looking at only a small snapshot of the market’s past movements as opposed to what could be found by using multiple timeframes, traders might be limiting the number of trading opportunities that they are exposed to and could therefore act upon.
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