this what I copy from similar question asked in the past:
I trade the D1 and the H4. I mark my important horizontal lines on the Daily. As price approaches these zones I may then hop down to the H4 to look for a trade. I keep the line from the D1 in place because those S&R zones on the Daily tend to carry more weight as more traders are watching these levels.
If price approaches this zone and I see a nice PB on the H4 I will then enter the trade confident that price has just rejected an important zone. Now all my stops, profit targets and move to BE targets are worked out off the H4 charts as this is the time frame my trade in being played on. In essence I just used the important horizontal S&R zone to help me âspotâ a strong area of the charts from which to get into the trade.
For example current NZDUSD some people are in, long from green resistance looks lovely on 8 hr and 12hr (attached) but not as clean/harder to spot on other TF daily and 4hr.
Its about what fits you best. If I could check charts every 4 hrs I would get more entries.
Remember though, higher TF = less entries and bigger SL needed.
Good question.
I personally favour the daily too. However 8,6,4 are intra day Tfs that are widely accessible by many hence it will drag many
Players with it.
Yes that was my thought also.
I was surprised when I saw traders were considering short trade.
Based on teaching here it makes sense waiting for a pull back if it happens and then trade off of previous break out level, with proper PA action in place of course.
(P.s. ignore green horizontal line, I donât know what it is doing there I didnât plotted it, I canât delete it and it is not in âobject listâ lol)
Got a couple of pairs I like tonight. First is the GBPSGD D1.
We have a double pin bar setup with the second being more bearish. At a KHL and a good swing high.
Only con I see is that my broker doesnât have too much info on this pair so I draw my S/R lines to the best of my ability.
Secondly is the highly correlated but also tempting USDSGD D1 Bearish Engulfing bar.Big PA, formed at a KHL and at a nice swing high. Immediately grabbed my attention when I saw it.
Conâs⌠Ranging I guess.
I am quite new to this forum. I see a pin bar right at the resistance. price has observed that line quite well and also the trend is up. what do you all think ?
Yeah that was a bad read on my part, for some wierd reason I thought of going short. It is an interesting trade for me, because it looks really great due to the level it is on ( price is clearly rejecting 139.000), but the noise on the left is just too big for me to take the trade. I would love to know what people think of this trade
I agree that bullish pin bar looks great for long trade. Am not sure if it is at valid swing point as price has stalled a little, but it is with short to medium trend. It is also at your KHL.
My KHLâs are shown below on weekly chart to try and show all data in one screen shot.
