Multiple Time Frames

Viewing a chart in multiple time frames is necessary to gain the proper technical perspective. Basically you always want to be invested with the Trend and never against it. Usually hourly, daily and weekly charts are adequate to judge whether or not a position should be taken.

However, sometimes monthly and yearly charts must be viewed. For example the below hourly and daily Gold charts look technically terrible. However when viewed on a yearly basis a distinct upwards trend becomes visible.