I use D1 and H4 usually but where I see a signal, I look for its confirmation at smaller timeframes. If there is one, I open an order. Everything is simple if PA patterns and support and resistance levels are defined correctly
I use D1 and H4 usually but where I see a signal, I look for its confirmation at smaller timeframes. If there is one, I open an order. Everything is simple if PA patterns and support and resistance levels are defined correctly
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What smaller time frames do you find to be the most reliable ones?
which coefficient do i look at and why? there are daily, hourly, monthly etc. on different websites, and some of those websites don't even have monthly yearly. confusing... i'm looking at hourly trend trades (for now), and 4h soon.
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Hello,
use monthly and weekly for finding high probability turning points and then use 4H for finding relevant patterns in those congestion points. You then can use the 1H for timing the entry. Anything bellow is only for scalpers because the probability of false breakouts is bigger as the timeframe decreases.
For example if you have a trendline in 4H, you can trust a breakout in 1H much more than a breakout in a 5m chart, does it make sense?
It works the same for all timeframes, and depends on the time you want to look at the screen. With the model 4H for setups, 1H for signals you can have a daywork, on the afternoon draw your 4H chart technicals and then during the day look at every hour o'clock if there is a signal for entering an order. Another recomendation, use always closing prices as signals, I have seen to many engulfing bars change to pinbars in the last 5 minutes of an hour more times than I can count.
{quote} What smaller time frames do you find to be the most reliable ones?
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I look for confirmations at M5 and M15 usually. They are the timeframes that give more precise information. Still, I don't use them as the main ones. Only as additional
{quote} I look for confirmations at M5 and M15 usually. They are the timeframes that give more precise information. Still, I don't use them as the main ones. Only as additional
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I agree. I generally prefer M15 to M5 though. Also I use M30 sometimes, but it's not as reliable as M15.
I thought the timeframe doesnt matter either, then i did some thinking ...
My problem is im using an ava demo account right now (floating spreads) and on the lower timeframes the spread is higher from a relative position and that may go as far as turning a winning strategy into a loosing one. With a spread of 17 pips on eur usd ... if i aim for a 100 pips which can be expected in a trade duration of an hour thats 17% of my profits add that to all your loosing trades in addition. If i up the timescale and go for a 1000pip change thats only 1.7% making the same stategy more sucessful (if its a strategy that works equally well in terms of predicition indpendant of timeframe).
Any1 with more experience care to elaborate on how it is that theres no difference on the timeframe you use when you take spreads into the equation?
indeed we should be more leverage in trading, and with accurate market analysis trained to be able to do well. Analytic services market in instaforex best we can optimally perform its market predictions
As for me... I define the current market trend on H4. I use the Price Action method. I also look at H1 and D1, find the key support and resistance levels.
Positions are usually opened in the main trend direction. Entry points can be found at the smaller timeframes (M5 and M15).
I find the best timeframes are the ones that are slightly longer than the intervals I have time for (or doesn't make me feel pressured to 'check' too often). This gives me time to assess the current state of various pairs and plan for possible entries/exits in the coming bar(s).
Therefore, my overall 'signal' timeframe has bumped up to H2, rather than H1, just to take the edge off checking the lower TFs (M15 or M30), if I was trading based on H1. I'm working toward trying to use H4, but I still get the feeling I'm 'missing out' and thus I end up watching and wanting to react even though the next bar (or two) hasn't finished to confirm a signal (or not).
If I can eventually change my lifestyle to shorten my working hours/days, or hopefully trade full-time, then I suspect I will likely fall back to H1.
My platform doesn't have a 2H time frame, so I make to with the 4H, 1H and 30M ones, sometimes even the 15M one. Is the 2H one reliable?
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Its not there by default, but I can type it in the TF field and it works. Same for doing 10 minutes, or 3 minutes, etc. As far as I know, this can be done on many platforms and web site charts.
Not sure what you mean by reliable. Reliable for useable signals...sure. That's also because Im not one of those "super precise prime deriviative level of the. 618 fib from the last 3.1 segement of the current wave cycle" type people.
2H is a combined calculation of the previous two 1H bars, so think of it as a "lagged 1H with confirmation" bar.
{quote} Its not there by default, but I can type it in the TF field and it works. Same for doing 10 minutes, or 3 minutes, etc. As far as I know, this can be done on many platforms and web site charts. Not sure what you mean by reliable. Reliable for useable signals...sure. That's also because Im not one of those "super precise prime deriviative level of the. 618 fib from the last 3.1 segement of the current wave cycle" type people. 2H is a combined calculation of the previous two 1H bars, so think of it as a "lagged 1H with confirmation" bar.
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Wait, you can do that? On MT4? Because that's what I trade on. What exactly do you type? 2H?
