Using Trend analysis to trade the Daily timeframe

support & resistance | Trend Trading Every Timeframe |  Using Trend analysis to trade the Daily timeframe

Trend Trading Daily Time Frame

Trend trading the daily timeframe and daily charts is probably one of the least stressful ways to trade forex for a living. Literally all you need to do is check your daily charts at the end of every day.

The close of the daily price bar or candle is a very good indication of the direction the price will go for the folowing day. For instance a break and close above the previous days high is a good sign that the price will continue to rise.

Conversely if the price closes below the previous days low then it is very likely the price will fall the following day.

This is a very simplistic view of trading daily charts but it is always a good idea to be aware of the previous days high low and close.

Watch my video for more information about how to trade daily charts.

support & resistance | Trend Trading Every Timeframe |  Using Trend analysis to trade the Daily timeframe