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.
13 1st EMA:
34 2nd EMA:
120Analyzing 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.