Everyone struggles with time frames – so a quick explanation can’t hurt.
On any given chart you’ll generally see “price” running vertically along the left hand side, and of course “time” running along the bottom. If the chart is labeled as a “daily chart” then each “increment of time” along the bottom will represent a single day’s trading activity.
If you view your charts as “candle charts” ( which I encourage everyone to do ) then a single “daily candle” will show you the opening price, the closing price as well the high of the day, and the low of the day.
A “4 hour chart” will essentially break that same information into 6 individual candles and in turn show you the opening price, the closing price, as well the high and the low of “every four hour period” – within that given day. A 1 hour chart shows you 24 candles, and so on, and so on until you are finally looking at price action on a 1 minute chart, viewing the open, high , low and closing price of every single minute of price action.
The 1 Hour Time Frame – Why I Concentrate On It
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