Every single day the number of retail traders in the forex market is increasing at an exponential rate. However, if you look at the success rate in the forex market then you will be stunned since only 5 percent of the traders are making money consistently in this industry. Those who are making money in the forex market are the smart investors. They have educated themselves and developed a solid trading system to trade the live assets. If you know how to trade the live assets in the market then you can use the easyMarkets app apple to execute high-quality trades. However learning the art of forex trading is not at all simple neither it's too tough. You need to be extremely devoted and follow all the trading parameters to avoid the false signals in the market.in this article, we will discuss the importance of multiple time frame analysis.Multiple time frame analysis
Most of the novice traders in the forex market use only one-time frame to do their technical analysis in the market. But if you look at the professional trader then you will notice that all of them are trading the live assets by following proper risk management factors in every single trade and they also do the multiple time frame analysis to filter false signals in the market. The professional traders use one higher time frame and one smaller time frame for this purpose. If you consider forex trading as your alternative source of income then you can also do the multiple time frame analysis by using the easyMarkets app apple available on the internet. It's true that if you are relatively new in forex trading then it will be a little bit difficult for you to understand the basic idea of this multiple time frame analysis but once you master it you find it extremely useful.High-quality trade execution
If you want to execute high-quality trades in the market then use the daily time frame in your easyMarkets app apple to identify the long-term prevailing trend in the market. Once you find the long term prevailing trend in the market you need to switch back to the 4-hour time frame in the market to look for price action confirmation signal. Sounds a little bit confusing? Let's break things down into a more simple way. If you spot a long-term bullish trend in the daily time frame then you should look for the bullish price action signal in the 4-hour time frame. To be precise you will use two different time frame to execute your orders in them market. This simple process of using two or more time frames in the market is known as multiple time frame analysis.
Summary: though multiple time frame analysis is extremely profitable and reliable you should use proper risk management factors in every single trade to reduce the risk exposure in the market. And when you trade the key support or resistance level in the market make sure that you use the price action confirmation signal to secure high-quality trades in the market.