What is the best timeframe for a swing trading strategy?
That’s a rather common question that a lot of new forex traders have. And before I give you the timeframe that I think works the best, it is important that you understand the following:
“There is no one best timeframe, only the best timeframe that best suits you”
Nonetheless, because this is such a common question and the average beginner trader is looking for some form of guidance, I will provide some guidance just to get you started.
Start with This Timeframe: Daily
As a swing trader, you want to focus on the daily chart because the support and resistance levels are much clearer. The lower the timeframe the messier it is and the harder it is to trade. I have recorded a video here that explains why you want to start with the daily chart when swing trading.
The day chart is perfect for swing trading if you are just starting out, but if you find yourself unable to check the charts daily because of your commitments, then you can explore the weekly or monthly charts.
Again, I want to emphasize that there is no one best trading time frame and it really depends on you. So please use this lesson as a guide rather than something set in stone.