The Three-Chart System
This is a well-known, popular, and effective tool. The reader will know it now from the discussion of its application to the PTS formation.
Each trader profile should use three FOREX charts with different time unit scales for each currency pair they trade. The middle chart is the watch analysis chart; use it to actually find trade candidates. The largest unit chart is the trend chart, used for keeping track of the primary trend. It provides perspective, so the trader does not lose the forest for the trees spending so much time on short-term charts.
[caption id="attachment_13282" align="aligncenter" width="511"] Trader Profile Charts[/caption]
Tip: Do not extend to any three-chart method until you are fully confident analyzing a single time frame. Multiple simultaneous analyses without experience and defining rules can lead to chaos.
I would not trade without the three-chart system, although some trading methods such as the fire starter do not require it. Certainly, learn to analyze on a single time frame before attempting to use two or three