batus replies to: Almost perfect strategy

forex
17
0

{quote} thanks a lot for this post I know that this method is not bad, but my lack of certainty comes from the fact that I don’t know how to combine a lower and higher timeframe – what should be my entry setup on H1 or H4? on M5 I’m looking for the first HL or LH, but what should I look for above and what should I pay attention to? this is the missing element in my strategy…

You can look at it that you’re actually trading the higher time frame and using the lower time frame to time your entry. Put the lower time frame approach in context with the higher time frame likely direction. Everything you wrote about using the higher time frame is good – pin bars, dojis and so on, as well as S/R reversal levels; you can also simply follow the higher time frame trend, if it’s clear. As for not getting enough setups, the M5 might do the trick or maybe M1, or maybe look at more currency pairs or spend more screen time.

By the way, most of the time the higher time frame won’t give a likely direction. It might give a maybe direction (50%), but that’s not actionable. So, don’t try to force the trade, wait until you can say the higher time frame is likely moving this way or that.

Facebook Comments

Comments are closed.