Wow, thank you for your insights. I will put that into practice right away
U can enter on the 15minute timeframe to help get a better stoploss
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Hi, what is key is you try it first in paper trade. See that you do atleast 20 trades. 100 trades is better. Before doing in live. After you try, youll know. 
In a nutshell, using fewer parameters in a trading system can help to avoid overfitting, because it decreases the likelihood that the system is too closely tailored to the data on which it is based. This is important because overfitting can lead to inaccurate predictions and, ultimately, poor trading results.
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In two words: analysis paralysis.
Hi Andreethib,
how long are you planing tho hold on your trades / whatâs your trading style? If you are a âshorter term traderâ you could find the trend on those timeframes by using short-term MAs (15 - 20 Period).
You will experience better performance by using Fibonacci-Retracements at H4 instead of H1 and I think candlesticks give better information on shorter timeframes like maybe M15 - H1 (still assuming you are a short term trader).
Point 5: you better donât place your exits at resistance/support levels since the forex market is heavy manipulated and big players lurking at those levels to stop us out (liquidity etcâŚ) so you might use an ATR-Indicator for placing your exits
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I donât know much but if youâre entering on the H1 time frame you should at least check the trend from a higher perspective⌠Or you could as well place your entry from a LTF M15 or soâŚI wish you luck. And myself toođ