Who here uses a lower time frame to confirm entry on a trade?
For example, if your system on a 4hr chart says to buy, do you look at the 1hr chart for a buy confirmation before making the trade?
If your 4hr/1hr buy signals do not match, do you wait until they do before placing the trade or do you nix the trade altogether until you get another signal (at the upper time frame) and then check for confirmation again?
Thanks.
Jason
For example, if your system on a 4hr chart says to buy, do you look at the 1hr chart for a buy confirmation before making the trade?
If your 4hr/1hr buy signals do not match, do you wait until they do before placing the trade or do you nix the trade altogether until you get another signal (at the upper time frame) and then check for confirmation again?
Thanks.
Jason