It is usually better to study graphs, starting with longer time periods, and then working on smaller time periods. Long-term timeframes give us an idea of the dominant trend in the market. It's time to remember the most commonly used proverb in trading: "The trend is your friend".

This does not mean that you should open positions on this timeframe, however, you should open positions in the direction of the main trend present on longer timeframes. This also does not mean that you should not open positions against the main trend that is present on a larger timeframe, however, you should not open those that most likely have a lower probability of being profitable, or the goals for profit in them should be smaller than if the position was opened in the direction of the general trend.

In the foreign exchange market, fundamental trends that are present on long-term time periods, such as daily, weekly or monthly, usually have a significant influence. Thus, the trader should track the main economic trends that will go in the direction of the general trend in these time periods. Whatever the economic news is, whether it is the current account deficit, consumer spending, business investment or any other news that affects the market, all these events need to be monitored when they affect the price movement in the direction of the general trend. At the same time, such dynamics, as a rule, changes infrequently, as well as price movement trends in a given timeframe, so they should be checked only occasionally. (For more information, see Fundamental analysis for traders.)

Another consideration for working on higher timeframes is the interest rate. The interest rate partly reflects the well-being of the economy, it is the main component in the pricing of exchange rates. In most cases, capital will flow in the direction of the currency with a higher interest rate in the currency pair, since this is associated with obtaining a higher return on investment.