Focus on Daily and Weekly Charts in Trading
Short-term charts can be distracting, leading to hasty decisions. Instead, focusing on daily and weekly charts provides a clearer view of market trends, minimizes noise, and improves risk management.
For example:
Bitcoin ($BTC ): The weekly chart shows strong support around $32,000 and resistance near $40,000. Short-term dips on smaller timeframes often mislead traders, but the bigger picture shows an uptrend.
Ethereum ($ETH ): A 2% drop on a 4-hour chart last week caused panic, but the daily chart revealed consolidation at $1,700, followed by a rebound to $1,850.
"Too much focus on small timeframes can lead to wrong decisions." Stick to daily and weekly charts for smarter, more strategic trading.
