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.
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.