Going through the forums again and as I was reading the responses given to a lot of different posts, it just got me thinking, especially for our friends who’ve been trading forex for years,
what’s the most unconventional trading tip you’ve gotten and how did that work for you?
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I think that must be daddy (parents) levels, and they are working great for me, so good so i use them each day (morning) and it is the first thing i do on my charts is to mark these levels up
This got me curious! Hahaha. I’ve been trying to search for this online but I can’t seem to find an explanation.
@ria_rose it just mean Day candle and 1 min to 5 min is baby candles - 30 min to 1 hour is like teenager candles and 4 hour candle is adults and 1 day candle is like the parents candle
In short it gives you an idea where you get the info from what TF is most to trust.
See image, i just quick did mark up a Daddy (Day) candle, next step will be go down to the 4HTF and see what the market have to show/say, that line and finger in the 4 HTF so you see, if you but these 5 lines on daddy candle you can more easy read the market on the 4 HTF, there i mark up a few lines more maybe and then i jump down to the 1 HTF, which is usually where I plan my trades from on the 15 or 5 min TF.
Hope it makes sense
That’s a pretty fun way of categorizing them! HAHA. Thank you so much for the patience in clarifying.
I really appreciate it. I’m sorry if there are still a lot of these terms I’m not familiar with.
learned that managing losses is the most important part of making profits