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Next, I make a copy of this weekly chart and change the data to daily, shown in Figure 2.  

Once Again I do a lot of other things on the daily data chart. But for now, just note the change in trend is very obvious on the daily chart.

forex strategy which time frames for trading EURUSD Daily Date Chart

The next chart I prepare is my first intra-day data chart. I make a copy of the daily chart and change the data to ticks per bar. As I have stated in several previous articles, I prefer to use tick per bar charts, as opposed to minute bars, for all intraday charting.

Our preferred first intraday chart will look something like the chart shown in Figure 3. The selection of the ticks per bar to display is subjective. I simply adjust the ticks per bar value until I able to see tradable oscillations – we call it “seeing the music of the market.” We think that it is so important that we wrote a book about it, See the Music of the Market.

forex strategy which time frames for trading EURUSD 1500 Ticks Per Bar Data Chart

The oscillations are pretty obvious, as price rises and falls while trending down. However, as a very short term trader I would like to be in and out in less time than most of the oscillations occurring in this time frame (the white bars represent the first bar of the day). So I need a shorter time frame chart to use to construct my trades.

I copy the 1500 tick per bar chart and set the ticks per bar to 150, creating a chart that is ten times faster. Figure 4 shows the 150 ticks per bar chart.

orex strategy which time frames for trading EURUSD 150 Ticsk Per Bar Data Chart

Now I want to see if there are tradable oscillations on this chart.

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