Most of the traders use several currency to find trading opportunity. But few of them can be successful on that. I think the best is to follow one and use opportunities in full scale. No matter you are scalper or day trader, you also need to follow several timeframes. In this article, I will share my master workspace and trading approach. For that we will need to have three different timeframe charts at the same time. I will use EURUSD and 1H, 4H and Daily charts. 1H chart will be our main trading chart. 4H and Daily charts will be used for reference to get general view about market.



1) Daily Chart
Daily chart is very important for having clue about general market direction. We will use EMA, ADX for technical indicators to analyze market.





Currency:
EURUSD
Timeframe: 1D
ADX: 13
MACD: 13
1st EMA: 34
2nd EMA: 120

Analyzing daily chart:
ADX is for checking trend strength. We will look for trade opportunity whenever ADX is climbing above level 25 and be aware of trend weakness when it will drop towards 25 and bellow. Check my article for December to know how to trade ADX.
MACD is mainly for catching divergence, especially when ADX climbs and falls. So we can catch the trend change.
1ST EMA will be used for trading. Whenever 1st EMA is above 2nd EMA and price is above 1st EMA we can use buy opportunity by analyzing 4H and 1H chart.
2nd EMA plays as a strong support and resistance line.

2) 4H Chart
We will use 4H chart more than daily. It will give us better idea about recent market moves.





Currency:
EURUSD
Timeframe: 4H
RSI: 13
MACD: 13
1st EMA: 21
2nd EMA: 55


Analyzing 4H chart:
We will use RSI for checking overbought and oversold regions but most importantly for RSI breakouts. By catching RSI breakouts, we will be able to trade breakouts on price chart. You can check my article for April contest to learn how to trade RSI breakout.
MACD will be used for catching divergence. We can use RSI together with MACD for divergence and convergence analyzes.
1ST EMA will be used for trading. Whenever 1st EMA is above 2nd EMA and price is above 1st EMA we can use buy opportunity by analyzing 1H chart.

3) 1H Chart
For trading we will use 1H Chart for trading. Whenever we have buy opportunity in Daily and 4H Chart we will buy in every opportunity that we find in 1H chart.





Currency:
EURUSD
Timeframe: 1H
Stochastic: 8
Volume
1st EMA: 21
2nd EMA: 34
3rd EMA: 144

Analyzing 1H chart:
We can use Stochastic for trading in scalping style on 1H chart.
Volume indicator is important for checking Bull and Bear power and see who won the last battle.
1ST EMA will be used for trading. Whenever 1st EMA is above 2nd EMA and price is above 1st EMA we can use buy opportunity if we have rising trend in 4H and Daily charts.
3rd EMA is playing as a strong support and resistance line.

Our workspace will look like these:

We will trade 1H chart but at the same time see 4H and Daily charts for not to lose our sight.
For not to make article long I do not write practical examples of trading in this workspace. I am going to cover practical trading of this workspace in case this article becomes interesting for readers.
Hope this will workspace will improve your trading. Good luck to all!
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