Hey anyone who is into technical analysis out there..?

Question

I want to know if anyone knows of a way to predict price movement on a 1 min chart...

Answer 1

Which market? stocks, commodities, currencies, bonds, options, etc. etc.

Every novice, every single one, gravitates to the shorter and shorter time frames until they are stuck on the 1 min chart and can't go lower. Actually, I had a tick chart for awhile that was so noisy it looked like an electrocardiagram.

What you're looking for first is the trend, and then major areas of Support and Resistance, but major levels were probably not hit in the last 3-5 minutes. Those are shown on the Daily chart, and maybe on the 30 min chart. When price nears an important area, then use the 5 min or even the 1 min to look for an entry point.

In the Forex, trading currencies, we rarely use anything less than the 90 min chart, sometimes the 60 min, for making trade decisions, but we will use the lower time frames for entry points. The only time I use the 1 min with Forex is on the major Report trades, similar to the gap openings in the stock market, where every second can make a difference in direction.

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Answer 2

Both previous posters are correct. A 1 min chart will give you too many signals and can whipsaw you very quickly. I know you don't want to hear this, but don't trade off a 1 min. Look at a longer time frame to guage the trend and us multiple time frames to verify. For example, a 5 min. may be trending up, while a 30 minute is trending down. Then use the 1 min. to time your entry. If you located key support/resistence and the 1 minute is near one of them with the longer term trends moving away from them, it would be logical to take the trade. Example, if you're looking at say a 30 minute & 10 minute chart, and 30 is trending up, the 10 is showing a "bottom" and looking to move up, then look at the 1 minute, identify where support is and if price is close by, buy at support or a few ticks above.

Just my 2 cents

Answer 3

hi one minute chart is a too short time frame to predict the future trend of the market,you will get too frequent buy &sell signals caused by the noices in the market.....

to know the trend better have a bigger time frame say daily,regarding timing to intiate position you can select one hour time frame......
i hope this helps you...

Answer 4

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