Best Candlestick Time Frame for Day Trading

Updated at: 15 March 2024Deepak Painkra
 

It is typical to get confused between various time frames in trading. In this article, I will walk you through the best candlestick time frame for day trading, so let's get into it.

 

These are things which I have learned in trading, and whether you're a newbie or a seasoned professional, in both cases, it will be relatable, so let's dive into it.

 

15 Minutes will be Good for Beginners,

You can choose the 15-minute time frame for taking a trade, but to see the chart, you must use a 5-minute time frame. Why I'm saying 15 minutes because your number of taken trades will be less, which will save you from overtrading,

 
  • In 5 minutes frame, you will find a candle stick pattern multiple times, which can increase the number of trades.
    •  
  • It will be helpful for your psychology also.
 
Note:- Stop loss changes according to the time frames.
 

1 or 5 Minutes Time Frame is Good for Scalping

Only use this time frame if you're a seasoned professional. To capture momentum in a small time frame, you need to have some experience in the market.

Also, it is volatile. A volatile market means it might not help to control your emotions. To capture small price momentum in the market, we must use a small time frame.

 

More than 1 Hour is Good for Positional Trade,

A longer time can tell the market direction, but the stop will increase according to the timeframes, and you need to control your emotions.

The longer time frame can tell the market direction, but intraday, it can go up and down. Weakly and Day analyses are different

 

Monthly Time Frame For Investment,

The time frame indicates where the market can go in the upcoming days, and I have to say the probability. And if index option stocks are doing well, the market will go upside.

image of SPX American Market in monthly timeframe

 

And this was a technical analysis. I'm not going into the fundamentals and all the stuff. Also, an equity-based mutual fund depends upon the market movement.

 
This time frame will be applicable for stock and options trading, but it might change for the Crypto and Forex markets.
 

Which Time Frame do I use for Intraday Trading?

I use 5, 15, and 1 hour for intraday trade and weaky and day time frames to see the market direction. Also, I use 4 and 6 hours to find support and resistance

 

Disclaimer

The information provided here is only for educational purpose. The information provided here is not intended to be any kind of financial advice, investment advice, and trading advice. Investment in stock market is very risky and trading stocks, options and other securities involve risk. The risk of loss in stock market can be substantial. So before taking any decision or before investing in any Share consult your financial advisor and also do your analysis and research.