Trading questions!

Hello everyone

Here I am again with some questions, and I am interested in your opinion on this!

So, I decided to DAY trade using using top down analysis. I would start at 4H, then go to the 1H and finally to the 15 min. 15Min. for my entry, sounds good?

I’ve also been thinking about which currency pairs I should trade, but I’m not really getting out!

However, I started thinking about whether it might not be ‘smart’ to trade currency pairs at a time in the day when that particular exchange of that currency pair opens. such as when the Asian exchange opens -> AUD / JPY or when the US exchange opens -> USD / CAD

Should I do this? Cus thses pairs will be volatile, I guess…

I don’t day-trade much but I check the charts after London closes and after New York closes. Most of the action is during the London + NY session. Not much happens during the NY afternoon trade and very little while only Asia is trading, unless the RBA announce and interest rate change or suchlike. Of course, low volatility and shallow smooth trending moves might suit your style and strategy but beware of what feel like rational assumptions.

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I mainly trade the Asian markets, as I live in Thailand. Best time for any pair is mid session, but there’s not a lot of movement. Similarly, mid session London is good for scalping.

As for selected pairs, how long is a piece of string? It all depends on the market sentiment, which could well change during sessions, let alone where it’s at.

Just as an insight, many pro traders consider the daily chart as being the most profitable - and I intraday trade that, the 4 hr for confirmation and providing it compares to the above, the1 hr for entry.

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But the 1H for entry, isn’t it ‘better’ to use a lower timeframe, because you have more candlesticks, which I think, will tell you more of what is going on? I’m relativly new to trading, so correct me if I’m wrong!