DislikedI am wondering is there a possibility that we may have a valid setup in 5M, while 1M it might not agree? or going in another direction?
Also if you are trading on 5M, how to decide on entry price based in 1M? The price does not change between 1M and 5M, so what are we looking for? may be how the price moves with in that 5M in a 1M time frame?
Sorry if this confusing or a stupid question , I am trying to understand how to look for 1M for a better entry and how does it differ from taking a entry based on 5M chart.
ThanksIgnored
M5 with a valid setup which isn't yet mature on M1 or in the middle of one of those "little retraces" I mentioned in one of my earlier posts.
There you would have to wait for M1 to agree with all the conditions, and then enter.
M5 with a valid setup but about to turn around (watch the Trix and/or RSI for example), and/or on a sideways market. There you should stay out until trend is more clearly defined.
I'll try to post a chart to illustrate, later on.