Thanks, Tony Uyeh. Thank you for this article, a real eye opener. I work full time and everyone told me daily time frame i should trade.
If i enter or see a set up on daily but enter on 1H, which time frame should i manage my trade, such as trailing my stop? Simply because the daily charts carry more sentiment than hourly charts or indeed smaller time frames. Save my name, email, and website in this browser for the next time I comment. The blue line on the chart above indicates one candlestick on the daily chart.
1 Hour Bollinger Bands Cci Forex Trading Strategy
This is that same candle seen on the 1 hour chart. Really it comes down to preference. This speed is the problem. I tend to stay away from trading these lower time frames for this very reason. No Free Time — Use The Daily Chart The daily chart is perfect for people who would like to trade when they are not free during the day if you have a job for example, most of the strategies I layout on this site can all be used on the daily chart.
Combining The Daily Chart And The 1 Hour Chart If you like, you could use the daily chart and the 1 hour chart together, that way your placing longer term trades which you can make more money with and short-term trades which will make up for any losses you might take. Check this out. I usually use the 1 hour chart for this but MT4 was messing me about and showing a big gap in the market so I had to use the 4 hour to see the pins The three ticks on the chart show the additional trades I took after trading the pin on the daily chart.
Comments Thank you for opening my eyes. Leave a Reply Cancel reply Your email address will not be published. The reality of trading is that you need to show up each day and be prepared. Do your homework.
Draw significant support and resistance lines on your charts. The Candlestick Trading Bible. I hope you enjoyed this post! Did This Help You? If so, I would greatly appreciate it if you commented below and shared on Facebook.
1 Hour SIMPLE FOREX TRADING With Support And Resistance
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1 Hour Trading Strategy In Forex With USDJPY - Asian Session Trading
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Daily Chart vs 1 Hour Chart – Which One Should You Trade ?
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