Trading time frames using support and resistance

Hi guys… When trading using support and resistance. Which time frames do you use and which is important to make entries, especially for beginners. Eg, I traded using the one hour time frame after seeing certain candles forming but the market went against me before I hit tp. How do you guys set profit target

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I basically use 4 time frames; D1, H4, H1 and M15.

When plotting Support and Resistance levels I find the daily chart to provide the best and strongest levels.

My strategy is trading bounces from S/R levels plotted on the daily chart. When price is near one of these levels I may do some scalping on that pair.

Try and set TP in front of S/R level and stop loss beyond them. Make it easy to hit your TP and hard to hit your stoploss! Make sure you aren’t risking too much and set your lot sizes accordingly.

Another thing I have done with success for stop losses is setting the stop loss equal to or greater than the Average True Range (ATR indicator) and beyond a S/R level. Just make sure you are still getting a good risk to reward ratio.

I am rather new to trading though so I am not the best but I have been trading profitably so far (knock on wood) since I started live a few months ago.

Hope this helps.

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Same observation from me! Besides, I am comfortable with H4 time frame.

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4H is definitely viable!

Often times my Daily SR zones line up with the 4H and I can use it to get a better or earlier entry!

Realise that you cannot just set TP wherever you like. Of course it would be lovely for all of us to simply set a TP at 10 times the distance between the entry and the SL. That would be like goping for a job interview and deciding your own salary. Setting the TP order doesn’t mean we have a r:r of 1:10, the actual r:r is only confirmed when the trade closes.

TP, entry and SL are all a function of your strategy, so they are related to the TA you’re using to make a trade decision. The strategy also has to include rational relationships with your time-frame and your capital risked (position size). At the very least, learn about the various entry patterns you could select and see how far price normally travels after each one prints. No point setting a TP so far ahead it would be a once-in-a-hundred-years event if it got hit.

Yes, it is! the beauty of H4 is flexibility; day trader or short-term trader everyone can use this popular time frame.

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Nice tip I also use these crossings (between timeframes) as a signal that something interesting should happen soon. And often it happens so I try always catch such signals. Unfortunately they are rare.

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May I know the parameters of your time frames? Thanks in advance.

If you use a candlestick chart, the body of the candlestick must cut / break the support or resistance line.

Well I prefer to work on 4H, Daily and Weekly timeframes to position my trades for several weeks. It helps me reduce trading costs since I make only a couple of trades per month and also eliminate noise from trading movements I analyze. The lower timeframe you pick for investigation the more random moves you encounter which complicates the analysis

I have real-time experience on H4 & daily! But, no idea on weekly; since I believe it’s such a long term time frame.

Yes it all depends on timing of of your trade. Sometimes different timeframes give conflicting picture and it becomes really hard to make a decision. I call this time “sitting on the fence”

It’s true! Basically, I consider the market trend as my main weapon of trading! In this case; Daily time frame is my 1st choice.