i have a butterfly pattern h1.
i am now short.
if the pattern is destroyed, I still have to handle a loss.
look forward to the next sample.
since not all samples are successful.
1H is not a reliable time frame and risk reward is not so good. on the daily risk reward is better.
Ignored
h1 time zone gives me more options.
because my strategy is not 100% sure so I can spin opportunities.
I do not have to wait for days to see if it comes in.
this is just my system.
{quote} h1 time zone gives me more options. because my strategy is not 100% sure so I can spin opportunities. I do not have to wait for days to see if it comes in. this is just my system.
Ignored
You are a brave trader if you trade the 1 hour chart, it should be locked away.
You cannot determine what is a trend and what is a pump, it must be hardest time frame to trade.
If we know how to determine a trend, the flow of price action is best seen on a H4 chart or M5 even for a short bet.
Here this pair is still in a Long trend so I re-enter after the weekend and stay till trend becomes invalid.
Quite simple as it should be.
Attached Image (click to enlarge)
Trading thin liquidity at the boundary of the charts
{quote} What about confirming direction with D1/H4 and then doing shorter trades in the H1? Or confirming on the D1 and trading the H4?
Ignored
Hi Khat
Sorry for jumping in but if I can throw my two cents in -
Trading is only about Liquidity of orders,
Imagine a ball ( price action ) rolling on a trampoline where a heavy weight is placed at one side of the mat. Where does the market roll ?.
Now when those orders have been consumed, where is the weight now, you guess it on the other side of the mat so the market rolls over there to consume those orders as well.
This price action is seen as waves which can be seen to move in waves either up / down / or nowhere.
The question you should ask yourself is what time frame will allow me to see these wave movements in a way that allows me to see a trend.
Answer for me H4 where I attempt to trade in the direction of the Weekly Bias as seen above.
Trading thin liquidity at the boundary of the charts
Thanks for all the assistance so far everyone. I realize that I've been doing the very noobish thing and fighting the trend - wanting the price to go where I want it to and not where it's going. There have been pullbacks but it's going up. The head and shoulders pattern was the starting point and it's now going up. How far? No idea.
It's been consolidating for a bit - guess it's waiting on some of the news later this week. But will keep watching and learning. Now I just need to work on the Fibonacci and properly identifying the Elliott Waves. Thanks again!
