This is something im not quiet understanding.
H1, H4, M30 etc. on say USD/EUR all show different characteristics.
When you place a Trade does it matter which chart time you are on at the time?
H4 for instance are we talking days to see any real profit?
If you want to day trade and make profit daily what chart would you trade?
Many thanks
I am trialling using H1. My experience previously is mostly D1 but H1 seems to have a limited amount of noise / random movement, but also a tolerable workload monitoring opportunities and running trades. Most people regard anything less than M15 as pure noise but maybe its OK for youngsters on high caffeine days.
H1 TA is very comparable to conventional D1 charts but you have to remember that there is no (or very rarely) any gapping. Many well known candlestick patterns are only really recognisable where there is an overnight gap. Also whereas any 20 day sequence looks pretty much like any other and all the day’s bars look the same, this is not the case intra-day - bars prior to the London open and after the London open are very different, maybe even to the point where the Asian session is not practicably tradeable.
If you want to day trade and make profit on a daily, try focusing on H1, M30, M15, M5, M1 time-frame but you have to understand that trades doesn’t come everyday. This time frames are also tricky and stressful unless you ready to face it.