What time frame do you use when day trading to set your support and resistance?
What time frame do you use when day trading to set your support and resistance?
When short term trading, at what time frame do you put your support and resistance levels? Also, how far back do you go in date range?
Bhanuka Harischandra Answered question July 30, 2024
I think most day traders would use 1-day timeframe as their date range. Some traders that I know of use 4h, 1h, 15 minutes chart regularly. 4h and 1h is used to see the trend, while 15min chart is used to decide when to enter or exit the market. MACD and BB are the tools they use.
Bhanuka Harischandra Answered question July 30, 2024