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Over the 64 trades in the model portfolio – 71.88% were profitable.

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Petra Picks PLATINUM Program | Multiple Timeframe Analysis

So many of you get zoned into the minute by minute and tick by tick moves of a stock price during the day…

After all, we are day traders, right?

No matter what time frame you trade in, there is no good that ever will come from watching the tick by tick movement in a stock’s price…

One of the most important things in trading is to get rid of emotions, keep a level head, and make rational decisions…

This is hard to do when focused so intently on meaningless movement…

For me, I find it way easier to keep composure and make simple decisions on trades when I am not locked into every tick…

With technical analysis, the focus is on the charts, which are the visual result of the tick by tick when it’s all said and done…

And using charts with multiple timeframes will help take your focus away from the chaos and put it on what is… the charts…

Even with short term trading, by using longer-term charts at the same time, you can increase your odds tremendously…

This is called multiple timeframe analysis and it’s actually quite simple and often underused…

I am going to show you how to increase your odds when trading by using multi-timeframe analysis.

Why you should use Multiple Timeframe Analysis

This type of analysis is the use of charts from multiple timeframes, ex. monthly, weekly, daily and hourly…when analyzing a stock.

The best way to perform this type of analysis is with a top-down approach… meaning to look at the highest timeframe to get perspective and build down from there… till you reach the timeframe you trade in…

With longer-term trades, I look at the monthly chart for a bird’s eye view and overall trends…

Then I narrow into the weekly chart to find major support and resistance, as well as any trends.

From there I can dial it in with my daily charts… this is where I find my bread and butter trade setups…

But without looking at the multiple time frames, I could be missing some crucial information about areas of support or resistance… or the relation of the price to major moving averages on a longer timeframe…

All of which could affect the odds of my trade working…

Example of multiple timeframe analysis:

Let’s take a look at some charts for Target (TGT).

Below is the monthly… by zooming out to a monthly, I can see it from a bird’s-eye view… I see a long uptrend and more recently an ascending triangle…

This is bullish price action… so when looking for my buy setup on a lower time frame, I will want to see it coincide with an upward breakout from the triangle.

Moving on to the weekly chart… I can see we are in an ascending channel to the upside… another positive pattern…

Now to my setup on the daily chart… from the other charts… I know that I have bullish patterns on all timeframes… so I should be looking at buy setups…

I also know that I need a break above the ascending triangle before I want to buy…

This allows me to set my trade up properly… I wait for a break above the key levels on the monthly, weekly and daily…

Once that happens, I know there is nothing in the way of the price…

I use this in all of my trades and teach my members the importance and usefulness as well…

“You have helped me find a plan that works for me by teaching me to look for set-ups across 3 time frames. That has been an amazing edge in my strategy. I never dreamed I would have the calm confidence I have today. I am cured of FOMO & 20/20 hindsight. I haven’t said “darn it, I should have _____” in a couple of months now. That’s huge!” —E.B.

If your trading profits are lagging… it’s time to learn from an experienced and profitable trader… systems, setups, indicators, live training, resources, watchlists, trade alerts and more… all from a seasoned vet with more than $2.4 million in trading profits…

Join Now

Source: PetraPicks.com | Original Link

Author John GladstonPosted on September 24, 2019Categories Petra PicksTags Petra Hess, Petra Hess Fraud, Petra Hess Review, Petra Picks, Petra Picks Complaints, Petra Picks Fraud, Petra Picks Gold, Petra Picks Gold Member, Petra Picks Gold Membership, Petra Picks Gold Review, Petra Picks Gold Reviews, Petra Picks Gold Scam, Petra Picks Login, Petra Picks Platinium, Petra Picks Platinium Membership, Petra Picks Platinium Review, Petra Picks Platinium Reviews, Petra Picks Platinium Scam, Petra Picks Refund, Petra Picks Review, Petra Picks Reviews, Petra Picks Scam, Petra Picks Trading System, Petra Picks Trading System Complaints, Petra Picks Trading System Fraud, Petra Picks Trading System Login, Petra Picks Trading System Refund, Petra Picks Trading System Results, Petra Picks Trading System Review, Petra Picks Trading System Reviews, Petra Picks Trading System Scam, Petra Picks Trading System Website, Petra Picks Tranquil Trading, Petra Picks Tranquil Trading Review, Petra Picks Tranquil Trading Reviews, Petra Picks Tranquil Trading Scam, Petra Picks Website

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