Live Trading Room Review - Using Multiple Timeframes

Описание: http://directiontrader.com Live Trading Room Review - Using Multiple Timeframes while day trading the futures markets.

This morning in our Live Trade Room we used multiple timeframes while day trading the futures markets and found some very high-percentage-trades that allowed us to hit our daily profit goals today.

Using multiple timeframes for day trading means that we will begin with a slower chart timeframe to help us find the long-term-trend direction, and we will combine the trend with major support & resistance levels that will tell us exactly where to enter the trade.


The first chart we used this morning was a 15-minute timeframe. This 'slower timeframe' is often referred-to as the 'anchor chart' and today we found the markets opening inside previous days price action. Knowing this, we knew we wanted to sell the previous days highs to start.

With the anchor chart prep done, we knew that selling was our best direction, and we needed to be patient for price-action to test the highs of the previous day so we could sell those highs for the high-percentage-trades today.

The second chart we used was much faster, and we call the faster timeframe the 'entry chart' because we will be looking for an entry pattern on this chart that will go in the same direction as the long-term-move. The entry chart we used today was the 233 and 512 tick chart and we were able to find the perfect entry pattern to get short.

I hope this helps you define your major price levels to use and explains how to use the slower timeframes for your entry and exits.