Things to do before viewing multiple charts

FX is about analyzing the market by looking at multiple charts, which is often said.
This is indeed true. If you only look at a single chart, you’re seeing only a portion of the market’s flow, so trading accuracy tends not to improve.

The same can be said for scalping. For example, by treating the 1-minute chart as short-term, the 5-minute chart as mid-term, and the 1-hour chart as long-term when looking at charts, the accuracy of scalping trades improves.

However, before analyzing with multiple charts, there are things you should do.

Key points to keep in mind before viewing multiple charts

What you should do before analyzing with multiple charts.
That is,to improve the market analysis ability on a single chart..

“Huh? What do you mean? If one chart is hard to analyze, I want to look at charts in multiple timeframes…”

you might think.
Indeed, a single chart makes it hard to grasp the market flow, and to analyze deeply, it is natural to look at multiple charts and trade.

However, there are caveats.

Are you really able to analyze the market with a single chart?
For example, imagine you are looking at a 5-minute chart.

What situation can you quickly determine from that chart?

This is very important.

If you do not have the ability to read a single chart, you cannot properly analyze even if you open multiple charts.

It is important to grasp the recent market conditions without looking at multiple charts

For example, here is this chart.

What kind of movement can you imagine after this?
The left side of the chart cannot be seen, but you don’t need to worry about that this time. Assume there is no support here.

What can be said about the facts on the far right of this chart?
This is crucial. The higher timeframes do not matter here.

Chart afterward

What can be said on this chart is that the 5-minute uptrend has collapsed and is transitioning to a downtrend.

When you see a strong bullish candle, does it look like a moment you would want to jump in?
The uptrend has clearly broken, and the highs and lows are trending lower. This market has some resistance to rising further. Of course, in such a situation, prices can still move up. However, when you talk about possibilities, there is no end. Based on market conditions, assess which direction is the natural movement and trade in that direction to increase your chances of winning.

※ The diagonal lines are drawn to make the market flow easier to understand and are drawn roughly.

How to become able to analyze multiple charts

We looked using a 5-minute chart, but such judgments can be made by looking at a single chart.

Conversely,if you cannot understand the market situation on a single chart, it is still early to start with multiple charts..
It will become even more complicated.

If you can deeply read one chart, try analyzing with multiple charts.

It may feel less complicated.

It may take time to get used to, but if you learn to properly read a single chart, it should not be difficult.