Timeframe

The timeframe determines how much time one candle summarises, and with it the number of signals you will see, how wide your stops must be in pips, and how much of your day trading occupies.

Most traders use top-down analysis: a higher timeframe such as the daily to establish context and direction, then a lower one such as the one-hour to time an entry within that context. The higher chart says what; the lower chart says when.