I can’t get the pic to show; I R click the icon, then click ‘show pic’…but nothing. Any suggestions? I just recently started trading the Daily and would like to see how the W. works.
EDIT from my last post
While I still believe trading off of longer TFs like weekly offers higher probability trades. It might not be a wise decision for newbies to jump into higher TF’s right away. First off higher TF’s like weekly offer very few set ups compared to lower TF’s and we have to have wide SL and that poses a threat to a lot of new traders who doesn’t even know what they’re doing. To trade higher TF’s first off I think it’s crucial to get the basics. To get the basicsit’s essential to trade off of 4H and even dailies first.
By basics I mean how indicators lag big time /no offense to those who rely entirily on indicators/ and learning to read the charts and price action is your only best bet. Support and resistance can offer a way to enter and exit. But overall price action and reading chart patterns gives you enough insight to help you decide which side of the trade you want to be.
To makes things simpler weekly charts are clear of noises and even big moves that a news event has caused shouldn’t cloud your judgement on weekly TFs.
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I have looked cautiously at Weekly trading, it takes a different outlook than the shorter time frames. usd/cad - I saw a support zone (1.078 - 1.0656) retracement so I am long: nzd/jpy - I saw resistance touched and then retracement at 89.93 so I am short. I will try to learn how to post pics in BP forum so my posts can be visual too. Good thread. d.
Is HAS a good way to see PA? I assume HAS starts in the middle of the previous candle just like regular HA so how do you find the highs and the lows?
good to trade in weekly time frame because it is consistent but it is not fit for daytrading or intradays trading
I trade also on weekly charts. How do you use news for trading in the higher time frames? Or do you use just price action?
Yeah, it seems alot of new traders are drawn to the lower timeframes and daytrading mainly because of the excitement, but trading off higher timeframes like the daily and weekly have alot of benefits, Two of which are reduced transactional costs, and higher probabilities trade setups due to less noise on the higher timeframes.
trading off the weekly tf does have it’s benefits…I’m looking at shorting the aud/cad two pin bars…will have to wait 25 hours to verify this weeks pin bar. I use weekly along with the guppy moving averages as well as the 200ema.
I shorted this pair two times on 29/1 and 2/2 already up 130 pips and 40 pips.
i like trade with long term. we can get more time for analysis and read news. when we has great analysis we can make more money with it. when we trade with long term strategy. we can get more time in other action. we will stronger . i was tired when i followed market every hours.we’re difficulte analysis. but it depend on character of trader.
Lower costs make the weekly time frame easier to trade. Rollover is low too. But even if you are still concerned about rollover costs when holding fx trades for months on end, one can simply trade pairs with positive rollover. That is better than the steam roller.
-Adrian
I like many of the benefits you guys are talking about higher time frames, but I would think for someone who does not have a highly capitalized account things can go bad when a decent entry time still swings 500 pips in the other directon.
How many pips are your stop losses set for when trading the Weekly charts? Daily?
long term trading is better . special who has little time. because we can analysis and invest our money with order in weekly time. we will not tired when we follow it.
I use one to perhaps one and a half of ATR (7)
very nice work hope u have agreat day and proit
If you see a setup on weekly tf jump to daily tf and wait for the conditions to met with the higher tf and enter a trade. I can easily place a SL of 200 pips because i can fine tune my entry on lower tf like daily or h4.:50:
Old thread I know.
I was just wondering what “spot4x” ment by this:
" enter the trade when the candle crosses the HAS "
Image of his chart is not possible to open and I think it would be really interesting to know how he traded weekly charts.
Hello there, any chance I can contact you? I want to start trading the weekly chart. Thanks in advance.
Hello there, any success getting spotx reply? do you trade the W chart? If so, I will appreciate if I can contact you, I want to start trading the weekly chart and will like some advice or support. Thanks in advance.
