Disliked{quote} I disagree that you need to analyze higher time frame charts to be able to trade a lower time frame. This is widely stated and accepted as gospel on forex factory but it's bunk iMHO (no disrespect intended). As I said previously I trade mostly futures with tick charts and use only one tick chart frame without a thought for a lower or higher tick chart frame. For example if I'm on a 777 tick chart I don't look at a 10000 tick chart to determine anything. The tick charts I trade move much faster than 5 minute charts. The price action tells...Ignored
Patients pays wait for the market to come to you if i see a set up the first thing i will do is see where my stop needs to be and see if i can can get a minimum of 1 to 1 RR with a chance of a possible 1 to 3 rr or more in some cases if the stops to big forget it there will be a better opportunity if you wait.
Its better to out wishing you where in a trade then in a trade wishing you where out of it.
Turn your wounds into wisdom