Day trading also known as intraday trading is one of the most difficult ways of making money unless you have done a technical analysis course in Ahmedabad. It’s usually helpful to examine price movement over different timeframes to make sure they’re all conveying the same message, whether you trade from a daily chart or a tick chart. This can be accomplished by using technical analysis across multiple timeframes. On an intraday time frame, such as a 5-minute chart, you can see a wonderful setup, only to discover that the long-term trend on the daily and hourly charts is moving in the opposite direction. Time frame continuity is yet another approach to increase your chances of winning.

Time frames in a Chart
You can choose from a number of time frames in any current charting software. A time frame is a stretch of time that results in a fresh price bar. A 5-minute bar, for instance, denotes the creation of a new candlestick or bar every 5 minutes, each of which represents 5 minutes of market data. The length of time you’ll be in a trade and the amount you’re willing to risk are typically determined by the time frame you utilise for trading. You can enter and exit the market in a few minutes if a setup on a 1-minute chart plays out quickly. On a weekly chart, it may take several months to figure out the identical setup.
Longer term charts can be used as confirmation tools as well as for spotting critical levels. A support level on a five minute chart that has been respected for only a few hours is considerably less significant than a resistance level on a daily chart that has been followed for over a year. Everything about charting time frames is well taught in advanced technical analysis courses.

Importance of using multiple timeframes
1. Confirmation
We are aware that the main goal of trading is to improve your odds. The market is unpredictable, and most traders only succeed in around half of their trades. It’s wise to ensure that the reward/risk ratio for any deal you enter into is tilted in your favour. Our goal is to have average winning trades that are significantly larger than average losing ones. Using various time frames to verify trading setups and price activity is one method to increase our chances of success.

2. Gives a different perspective
What appears to be an upward trend on an intraday chart can really represent the formation of a lower high on a daily chart. Multiple time periods can occasionally radically alter your bias. Before looking at the daily chart encourages you to switch to looking for short setups, you can be seeking for entries to become long.

3. To find out important levels
If you’re trading using a 5-minute chart, you can spot a support level that has often been held. You can determine the significance of this level or whether it is merely a short-term level by looking out into longer time frames. We are aware that repeated buying and selling at certain levels results in the formation of support and resistance levels; frequently, this involves institutions building up or closing out a position.

4. Finding out biggest winning trades
An excellent strategy to expose yourself to potential home run trades is by using several time frames. If you only utilise hourly and daily charts to validate setups on 5-minute charts, you’re not getting the most out of them. A technical analysis certification course teaches you multi timeframe analysis as well.