Lets say during the asian session the trend for a pair is upwards but when the European session opens theres a downward trend. If i trade during the the european session, when should i determine the trade for the day?
Well, I’m no expert, but I would say that the day’s trend should definitely be established within an hour of the London open, at the latest.
Terry
would you check the 5-min chart for this?
I wouldn’t check the 5 minute chart for anything. I’m not a scalper. Anything that low is noise and can’t be relied on for a trend, especially the daily trend.
The obvious choice would be the Daily chart (no sarcasm intended).
You might consider the 1 hour if you’re looking for an entry point, but I think the 4 hour will be more likely to align with the daily trend.
Terry