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You have to decide what the correct timeframe is for YOU.
Once you've found your preferred timeframe, go up to the next higher timeframe. There you make a strategic decision to go long or short based on the direction of the trend. You would then return to your preferred timeframe to make tactical decisions about where to enter and exit (place stop and profit target).
Adding the dimension of time to your analysis gives you an edge over the other tunnel vision traders who only trade off on only one timeframe.
Make it a habit to look at multiple timeframes when trading.
Choose a set of time frames that you are going to watch, and only concentrate on those time frames. Pick three time frames: 1hr, 4hr, daily; 5 min, 15min, 1hr, and so on. And only use those time frames. Learn all you can about how the market works during those time frames.
Don't look at too many time frames, you’ll be overloaded with too much information and your brain will explode.
Stick to two or three timeframes, any more than that is overkill.
We can't repeat this enough: Get a bird's eye view. Using multiple timeframes resolves contradictions between indicators and timeframes. Always begin your market analysis by stepping back from the markets and looking at the big picture.
Use a long-term chart to find the trend, and then return closer to the market to make decisions about entries and exits.
