Many traders only use one frame of time. The most popular is usually a 5 minute chart. Although it looks fairly easy as this chart gives a lot of data and can give a daily price movements, how is the risk. You can not know a good trend because it could be seen in the daily trend chart is different with the actual weekly trend more powerful influence. It could be that the trend is not a trend that looks real but merely 'retracement' or correction of the ongoing trend. As a result, when you take a position by following the 'trend' daily price movements follow the trend reversed course again and you actually get stuck in a position of disadvantage.
The best way to avoid this trap is to use a longer time frame to see the trend going. For intraday, you can use the chart H1 (1 hour) as a complement to the M5 or M15 chart you use. With a longer time frame is you can see the price movement that occurs within a few days or a few weeks in advance so they can map out a better price movements. This way you will know if the daily trend is happening is a continuation of the previous trend of price movement or just a correction and consolidation.
The best way to avoid this trap is to use a longer time frame to see the trend going. For intraday, you can use the chart H1 (1 hour) as a complement to the M5 or M15 chart you use. With a longer time frame is you can see the price movement that occurs within a few days or a few weeks in advance so they can map out a better price movements. This way you will know if the daily trend is happening is a continuation of the previous trend of price movement or just a correction and consolidation.
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