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  • Digg it UP - Forex Day Trading- Two Step Trend Analysis

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    ing at multiple charts on different time frames starting with higher leve
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    If you approach forex day trading by just looking at the 5 minute and 15 minute charts there is a strong possibility your account will evaporate sooner rather than later.

    In order to get a feel for the market and an indication of the current trend it is necessary to do an analysis by looking at multiple charts on different time frames starting with higher level

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    In order to get a feel for the market and an indication of the current trend it is necessary to do an analysis by looking at multiple charts on different time frames starting with higher leve

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    ing at multiple charts on different time frames starting with higher level charts first.

    Rather than having the charts cluttered with numerous indicators and signals which can cause signal paralysis, I recommend just two:

    1. MACD (with default settings)

    2. 200 EMA (Exponential Moving Average)

    Now examine your charts using a top down approach:<

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