Is a time frame of 4-hour, daily and weekly chart good for a short time trader? For my situation should I place the exit and entry on the daily chart or on the weekly chart. I plan to do one to three trades per week.
Regulary if you plan to do one to three trades per week, I think you need to use 4hr chart. but even though, a trade can last for weeks thats produced from either 4hr or daily. It depends on the life time of trend.
Lets say, you can use your 4hr for entries, while getting confirmation from daily chart. Also add the weekly chart to view the bigger and most correct market trend. See whether your timeframes line up together. Note..Some trades enter only when the 3 timeframes agree.