From intraday to intraweek trading

Hi guys, almost a year in intraday trading where i have used PP, stochastic and shi channels.

But from 1.12. im going intraweek so i was thinking to start using MACD, shi channel and moving averages.

I know that there isnt the best indicator anywhere but what interests me is will this three indicators work good together?

You’ll probably find MA’s and MACD give you similar results to each other, just use one or the other.

I’ve no experience with SHI channels but if you have a strategy, that should push you towards a certain indicator (or two at most). But without a strategy, it would be a mistake to decide to use a certain indicator anyway.

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on intraday base i have used PP for something like a static indicator for breakout trading through the day. stochastic to see is it oversold or overbought, and shi channel just to clearly see what is the trend overall.

example

and for intraweek my plan is to catch good position and enter on mon or thu and ride on that trend 2 or 3 days.

its problem that my experience on intraweek trading is zero so i dont know with what to start

If you have a stratergy that works for day why don’t just create one for week based off what you have learn’t from your day trading.?

there are so many ways to trade.

Whatever you do I’d suggest Demo trading it - until you get the “Feel”

Certain indicators / strategies seem to be effective on one timescale more than others.

I don’t use Pivot Points, but I know some well respected people do, so I don’t know if the moves would carry forward - although I don’t see why not.

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trading PP i didn’t like that i was entering late and getting out soon. R1 to R2 and S1 to S2 system (check it out on above picture in the link), now i would like to ride on a wave

if you know what i mean, catch it early and if its good, ride it for some time

of course, 2 3 months of demo trading and when i feel comfortable then trade with one grand for start

i think ill for starters just use moving averages and shi channels (trend lines) and keep it simple, after some time i will add something else if im in need

Besides the great advice given so far, I would have to implore you to consider weekly horizontal levels. For example, when price reaches a weekly support level, you should be watching closely for a buy signal on whatever time frame chart you’re using. Same applies to resistance levels also, looking this time for sell signals.

I think you’re making a great decision to go with higher time frame trading. I’ve been trading the daily charts for the last two years and I am now profitable. I still trade intraday, but I do so on a demo account. It’s a lot more fun to lose play money than it is to lose real money.

Think were all trying to catch that wave ramzes2.

As far as trading off indicators goes the less the better, but i did find a good commodity channel indicator
that i found useful think its standard indicator on most MT4’s

plus S/R zones Important…!!!

plus : ZigZag if your counting waves

plus 11 day 33 day MA’s : ??? or whatever your preference

plus fibo’s : Placed in a strategic position

= A somewhat messy chart But My binoculars to peer into the Markets abyss, looking for that answer ramzes2.ready to send 1 of my drones to test the waters… :alien: .

Other than that have you tried the C4 system or any of the numerous other free systems indicators.? that are on the forums
I tested a few with some giving good results. but the main reason for me was to see how they worked helping me to build on my own day trading strategy.

I think you can profit off Trading: solely on Technical or solely on fundamentals but if you Master
both and use some logic you gotta have an even better chance right.?

It’s speculation just make sure you have covered your A55 !

Hear Hear ! :slight_smile:

Hey Stevo, Wat up Dog

The Ever Salutations VIPER

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Same experience! I have also used MA and MACD! I think, only indicator is not enough here! Traders need deep knowledge on fundamental analysis.

ok guys, so far so good. my first intraweek trade

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Is that a sell?

where you taking profit ??

it’s a buy and my TP is R2

Well-done! But, which currency is it?

usdcad. 4H chart time

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sorry just noticed details… Distracted looking at brokers Again.

Nice catch! It’s a bullish trend, so the probability is higher for the buy trades.

another week, another good trade :smiley:

about 511 pips. would put an earlier picture but i was asleep