Daily Trades

Not sure if this is the right forum for this, but if anyone care to share....I am mainly monitoring the daily time frames on eurusd and usdjpy at this time and would like some input/suggestion on what is the best criteria for entry? 15Min, 1hour, 4hour? Thanks in advance!

i would say at least 30 minute . The lower the time frame the more smaller the stop

For daily trading with keeping positions from 1-3 days up to 1-2 weeks I use:
- 1 and 3 hour charts for signals - my Stops are small and entry precise
- weekly charts for trend confirmation - I am a trend follower, so I always want to trade in direction of bigger trends

Hi JackTheBlack,
Interesting its operational !!
- Could you share about your strategy with accurate inputs?



Prosperity Green Pips


Sorry for the bad English written in these sentences, not my language.

" I am Brazil "

I cannot understand why traders drop down into lower time frames for entry and I hope you realize this after you read this post
The daily time frame in my personal opinion is the best of all time frames to trade with. From there I can see firstly , the trend, and then how the candles are planning out their direction. A bullish candle will either pull back to form a low of the day or pull back into a support region. From here mark the high or the open of previous bull candle , yesterdays candle, and wait for a break out of the high or open. Seeing a candle pull back tell me that is has just gone to plant a seed for us to watch it grow , then the candle will start to show signs of a bullish move and we then gain confidence that the candle is telling us the move for the day ahead.
Think about a moving average , what the big guns call a lagging indicator, with current price above the ma trending upwards. Then price pulls back to hit the moving average and continues on back upwards. The moving average acted as a support , it was there at the same time as price, and gave us an immediate signal to enter a buy. Try it- use the 10ema and see how price acts with the 10ema. How do we know if price will bounce from the 10ema? Watch, look for confluence, WATCH ! And you may start to see something very interesting start to unfold.
I just gave my view- I proved that a moving average is NOT a lagging indicator-now its there for you to look at and study the charts where you don't need another time frame or another excuse because it all come in one well wrapped package.
All the best mate.

Good point on using a higher time frame like D1. However, precise entry can be gained by waiting for price action to give a setup at an S/R zone, then making the entry at such a lower time frame as H1. About EMA, any period will do depending on style of trading. The bashing of MAs by some traders is rather a misplaced reaction.

Stay safe, trade safe.

KP