Daily or Higher Timeframe Trading

Quoting RickM

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{quote} You said long time frames didn’t you. How about the monthly chart on EURUSD I have just entered a Short on EURUSD which may last for 6 months all going well. A tight consolidation on the Monthly and PA trend suggests a Huge Bearish trend. Lets see if it works. The other important issue with trading long term is you get to make money while you sleep, which is very nice if it gaps down and runs in your direction. I also trade the intraday Future Markets and it’s easy to miss a move on gap down / up days because those can’t be traded intraday...

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Quoting RickM

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{quote} You said long time frames didn’t you. How about the monthly chart on EURUSD I have just entered a Short on EURUSD which may last for 6 months all going well. A tight consolidation on the Monthly and PA trend suggests a Huge Bearish trend. Lets see if it works. The other important issue with trading long term is you get to make money while you sleep, which is very nice if it gaps down and runs in your direction. I also trade the intraday Future Markets and it’s easy to miss a move on gap down / up days because those can’t be traded intraday...

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Quoting Olu

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{quote} 6 months? Please find below a monthly chart for the eurusd. Why are you not looking for a bounce off the lower trend line? Also you must be looking for .90 area or something {image}

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Quoting axecap

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{quote} my 10 cents.... thats a monthly chart so I would draw the support line where the candles close for the month. 1.05683 November is not closed yet..

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Quoting Olu

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{quote} You don't like GbpUsd long term? For me both these pairs could run higher of support {image}

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Quoting Olu

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{quote} 6 months? Please find below a monthly chart for the eurusd. Why are you not looking for a bounce off the lower trend line? Also you must be looking for .90 area or something {image}

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Quoting RickM

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{quote} Yes it could, but I don't trade with trend lines. I am a Liquidity trader looking where the Limit orders will be - which is 70% likely to be Buyers trading patterns below that line of yours. I'll go Short with a stop and watch the 95% of traders lose Money. As I am already up 55 Pips with a Stop set to Break Even, I have nothing to lose now except my pride (and who gives a fuck anyway)

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Quoting Olu

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{quote} You don't like GbpUsd long term? For me both these pairs could run higher of support {image}

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Quoting Olu

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EurAud I have a small short in this. {image}

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Quoting Olu

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Charts of interest: {image} {image} {image} {image}

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Quoting Olu

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Breakdown or bounce?{image}

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Quoting Praetorion

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{quote} The Weekly chart imo is too long of a shot to consider .. id rather only use it as a reference point to identify trend changes or so. I've put some markings on the EURUSD chart marking a key level and the time it took to break those and the projected price levels of this move before it switches directions. to break of a key level the wait was 2 years .. long term yes you can look at those but daily and 4hr should be good. Daily and 4hr can give you the edge over how a weekly candle is being formed. here's what i do, i look at the weekly...

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