Thanks forexmnstr and NM.
Emm May I know if you were watching this, which lower timeframe reversal signals would you taking your trade from? 1H or 4H? Should I jump in if I see a pin bar on 1H at the previously broken support OR wait for the 4H candle to close? Sometimes the bounce is not as clear as 1 single candle or 2 candle reversal.. if it is moving sideways before it falls again how would I know? wait for the break of range and pull back?Ignored
I like to see about 3 or 4 bar pullback and the continuation on a smaller time frame. You dont want to zoom in so far that it no longer makes sense, meaning that if you trade the daily chart you do not want to use the 30 minute chart as a trigger chart. I like to use a 4 time frame or so smaller chart, for example, if I trade the daily chart then if I divide that by 4 I would get 6 hours, use the chart that gets as close to that as I can.
If you trade the hourly chart, 60 min/ 4 = 15min time frame would be my trigger. That should give you an idea of how I determine my trigger time frame. Again you just want to make sure you dont go to small or the signals become useless and really nothing but noise.
I like to see around 3 or 4 bars of pullback I dont want anymore than 5 at the most anymore than that and I scrap the setup.
Hope that helps some.