TOP-DOWN: MULTIPLE TIME FRAME ANALYSIS.
HIGHER TIME FRAME (4 Hours)
1. Determine the overall price direction of the pair (bullish,
bearish or ranging)
2. Check for a possible ‘price pattern formation’ or ‘candlestick
signal’
MIDDLE TIME FRAME (1 Hour)
1. Determine directional bias of the price
2. Check for a possible ‘price pattern formation’ or ‘candlestick
signal’
3. Check Resistance and support levels
LOWER TIME FRAME (15 Minutes)
1. Check whether the price direction is consistent with the ones in
the higher TFs.
2. Check possible ‘price pattern formation’ or ‘candlestick signal’
3. Target a successful breakout, reversal, retest or price
extensions - for entry