CHART ANALYSIS ALWAYS STARTS BY LOOKING AT A BIGGER PICTURE! Patience is everything in trading!. Successful traders always look at a bigger picture and rely on higher timeframe to get the required edge. Lower time frame like minutes to even hours and sometimes days dont tell you a bigger picture of what is coming. Yes you maybe successful for now but you might not be for a long time if you analyze your charts on shorter time frame. That is what i used to do and now i rely on higher time frame for my analysis, although the trade set up are less but they are of high probability.
This AUDJPY chart represents the first step that is advised to be taken whenever you want to do technical analysis. The chart shows the monthly support and resistance zones. It can tell you are really vital stories about the FX pair you wish to trade.
So always try looking at a bigger picture rather than a smaller one.
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