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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.65% 🇨🇭CHF: 0.49% 🇪🇺EUR: 0.22% 🇦🇺AUD: 0.18% 🇳🇿NZD: -0.00% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9L05PhfdwA
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  • GBP/USD has been lifted by signs that coronavirus cases in the UK are dropping and by suggestions that office attendance is rising.Get your $GBPUSD market update from @MartinSEssex here:https://t.co/RZxPm1XLto https://t.co/SIEjfEffBW
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.20% Gold: 0.49% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HByKIG4bmC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.75%, while traders in France 40 are at opposite extremes with 69.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tC95moURI1
  • $USD now at two week lows, cutting into secondary support zone 92.19-92.26 $DXY https://t.co/n14cvwLofZ https://t.co/HaPRsGzyxJ
Multiple Time Frame Analysis

Multiple Time Frame Analysis

Richard Krivl,

Student's Question:When on a Daily chart the pair is in an uptrend but on the 4 hour chart the pair is in a downtrend, what should I do? Do I buy or do I sell?

Instructor's Response:We want to take our primary trading cues regarding the direction of the trade that we make from the Daily chart.

If the Daily trend is up and the 4 hour trend is down, we would wait for the 4 hour chart to bottom out and stall, thereby completing its retracement cycle. Then, when the pair begins a new move, a fresh move back in the direction of the Daily trend, that is when we would execute our long entry. Trading in that manner is utilizing Multiple Time Frame Analysis.

Here is a link with a little more info on the concept....

http://forexforums.dailyfx.com/dailyfx-course-instructor-trading-tips/23989-post-day-4.html

It is advantageous for a trader to see how a pair is moving across several time frames and several trading cycles as opposed to simply basing a trade on only a single time frame.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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