Here is a tip for trader's using the 1 hour charts for entry:
1. Trade in the direction of the 4 hour MACD, not the 1 hour.
2. If the 1 hour is not confirming the direction of the 4 hour, don't trade in the 1 hour direction, instead, use it as a method to get a better entry price (look at the MA's on the 1 hour for potential areas to enter in 4 hour direction. Keeping market motion in mind
and look for price to retrace to on of the MA's or s&r lines.
3. Watch price around the 89 MA on the 1 hour (it will give you a head's up of price action around the 21 from the 4 hour).
4. Study the 1 hour charts in depth before combining your system. Focus on 4 hour mastery first.
The reason for this post is b/c I think some trader's may be using the 1 hour signal to override the 4 hour and that is really bad business and produces losing trades
more often than not. The only time I would look for a conflicting signal is when the 4 hour is near the 0 line (the 1 hour might give me a directional bias if a BOZ or cross may occur) or when price is at a significant resistance or support level (Like Swissy at 1.2465).
Hoped this help someone. If you are getting confused...Please, focus on 1 thing at a time. Start exclusively on the 4 hour w/ 1 or 2 pairs. Don't confuse/overwhelm yourself more with too much data. Our brains can only handle so much at one time before they overload and we get frustrated and make decisions that aren't up to our true abilities.
Many pips to all,
Pips
1. Trade in the direction of the 4 hour MACD, not the 1 hour.
2. If the 1 hour is not confirming the direction of the 4 hour, don't trade in the 1 hour direction, instead, use it as a method to get a better entry price (look at the MA's on the 1 hour for potential areas to enter in 4 hour direction. Keeping market motion in mind
and look for price to retrace to on of the MA's or s&r lines.3. Watch price around the 89 MA on the 1 hour (it will give you a head's up of price action around the 21 from the 4 hour).
4. Study the 1 hour charts in depth before combining your system. Focus on 4 hour mastery first.
The reason for this post is b/c I think some trader's may be using the 1 hour signal to override the 4 hour and that is really bad business and produces losing trades
more often than not. The only time I would look for a conflicting signal is when the 4 hour is near the 0 line (the 1 hour might give me a directional bias if a BOZ or cross may occur) or when price is at a significant resistance or support level (Like Swissy at 1.2465). Hoped this help someone. If you are getting confused...Please, focus on 1 thing at a time. Start exclusively on the 4 hour w/ 1 or 2 pairs. Don't confuse/overwhelm yourself more with too much data. Our brains can only handle so much at one time before they overload and we get frustrated and make decisions that aren't up to our true abilities.
Many pips to all,
Pips
but watching for the pullback closely...but if that doesn't happen that's fine also. There was a post about shorting the EURO$ last night and I'm not sure why...
...after years, I still screw it up!)....good thing I don't trade hidden divergence or I'd be very very hungry
