DislikedThat's the problem with indicators.. You can have sell signal on lower TF's, but buy on higher time frames. You can also have hourly suggesting buy, H4 sell and daily buy at the same time. My opinion is: IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant.Ignored
Naturally, the drawback to that one dimensional approach is that it only dealt with determining the trend on one time frame.
While this style or approach may suit some traders, but not others, there is no right or wrong answer.
It is simply a matter of individual taste.
Some traders prefer to take more risks and trade in a more aggressive manner, while others prefer to play it safe and trade in a more conservative manner. There is no one-size-fits-all approach to trading, and the best way to find out what works for you is to experiment and find what you are comfortable with.
Some aggressive traders may want to go against the higher time frame (HTF) trend and trade with the lower time frame (LTF) for scalping.
This is an aggresive strategy, but it can be profitable if the trader is skilled and has a good understanding of the market.
Other traders may prefer to play it safe and wait for all time frames to align before entering a trade.
This is a conservertive strategy, but it may also be less profitable.
The best approach for a trader depends on their individual risk appetite and trading style.
Some traders may be comfortable taking on more risk in order to potentially make more profits, while others may prefer to play it safe and minimize their risk.
Disliked{quote} Your opinion is respected however what most traders here do not understand is that every time frame contains the swings of the next higher timeframe both corrective and impulsive ie with and against, therefore the higher probability is to go with the higher timeframe . ie H1 contains H4 swings and H4 contains D1 swings so if H1 is in a correction against H4 and H4 is moving above D1 then probability is higher to trade in the direction of the HTF, it is just a matter of waiting for H1 to move out of the correction back into the direction...Ignored
I find it more efficient to look at multiple time frames as a way to potentially increase the odds of success on a trade.
So, when we combine the analysis of both charts you sort of have a dilemma.
Just to give an example here.
If you are looking to execute the trade off the 60-min chart, it makes it tough to go short (despite 60-min trend being down) when the next higher time frame is indicating that you are going against the overall trend.
Conversely if you are looking to execute off the 240-min chart, the 60-min chart is less relevant and you would look to isolate high probability long entries.
Thus higher time frames should always take precedent.
This is the part of trading where it can become more ‘art’ than ‘science’ and hence highlights the serious limitations of a purely mechanical approach.
One lesson I learn from my previous discussion with some friend we may find that, as we get further into discussion, it will soon becoming clearer how subjective the distinctions can become.
Sometimes we have to understand that some week the MTF chart analysis may have be a bit confusing and left us with no clear answers.
While trend identification is key, it is only one piece of the puzzle.
There are many other variable we have to look at to complete the puzzle.
Thanks for reading this far.
Just my newbie opinion not a mantra.
Best Regards
PAT
I come from the future.
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