Where do you set your levels if analyzing on different timeframes on the higher or the lower ?
If looking at a trend on the 4hr I wait for a good entry on the 1hr but where do I set my TP and SL on the 4hr or the 1hr ?
Thanks !
You should backtest your setup and see which timeframe is better for TP/SL. There’s a lot of unknowns with your post but I reckon since the setup and signal is on 4 hour the TP/SL would be there too unless you’re such a wizard that you know for sure the 1hr sniper entry will have a near unassailable stop loss placement.
Test, test, test. Only you can really answer your question because only you know you and only you know your system.
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The two time-frames have specific purposes. The longer TF gives you the set-up: the TA will tell you this is a market to trade plus the direction. The shorter TF gives you some TA confirmation of your analysis of price action but also a more favourable entry price. The set-up TF tells you there is a probability of profit: the lower TF increases the level of profit potential.
You want to stay in the trade until the probability of profit seriously reduces - this is shown by the higher TF. Use the higher TF to identify your SL level.
Then always ask yourself why you want to set a TP.
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