Weekly chart: This chart shows the price movements of an asset over a one-week period. It is similar to the daily chart, but provides a broader view of the market and can be used to identify long-term trends and potential support and resistance levels.
Monthly chart: This chart shows the price movements of an asset over a one-month period. It is commonly used to identify long-term trends and potential support and resistance levels.
The time frame a trader chooses to study is usually dictated by the individual trader's personal trading style.
Day traders, those who open and close positions within a single trading day, prefer to analyze price action on shorter time frame charts, e.g. B. 5-minute or 15-minute charts.
Long-term traders who hold market positions overnight and for extended periods are more likely to analyze the market using hourly, 4-hour, daily or even weekly charts.
Price movements that occur over a 15-minute time span can be very important to day traders looking for a way to profit from the price swings that occur throughout the trading day. However, the same price movement viewed on a daily or weekly chart may not be particularly important or indicative for long-term trading purposes.
