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Trading the Daily

  • #1
  • First Post: Jun 20, 2025 7:59am Jun 20, 2025 7:59am
I am aware that scalping and day trading are quite popular here. If you are this type of trader, then this thread might not be suited for you as it primarily concerns swing trading.

That being said, it is a fact that the daily chart has been known to give the most reliable signals when it comes to price action trading. But I am sure most people who have been trading forex for more than a few years can see that a lot has changed. For the most part, it has gotten messy. And it appears the daily chart is not as reliable as it used to be.

My question for you Daily chart traders: Are you having success trading the daily or have you abandoned it? If you are trading it successfully, then would you mind sharing how you are doing this?
Learn from your mistakes and march on.
  • #2
  • Jun 20, 2025 8:15am Jun 20, 2025 8:15am
as a fan of scalping, I can say we have to put emphasis on previous days low and highs with today's opening price ( Sydney open/ us closing)
then there are some certain ways some pairs work during different sessions.
for example, as we all know its kind of no point of trading CAD pairs in Asian session, and should look for in USA sessions.
then should be stay away from spikes, not even during news, even from trump's twites .
  • #3
  • Jun 24, 2025 11:35am Jun 24, 2025 11:35am
Hey! I used to rely a lot on daily charts because they felt more stable but lately the market’s been more unpredictable. I still use them but now combine with weekly charts and other indicators to confirm signals. It’s slower but helps avoid false moves.
  • #4
  • Jun 24, 2025 4:47pm Jun 24, 2025 4:47pm
Quoting here2there
I am aware that scalping and day trading are quite popular here. If you are this type of trader, then this thread might not be suited for you as it primarily concerns swing trading. That being said, it is a fact that the daily chart has been known to give the most reliable signals when it comes to price action trading. But I am sure most people who have been trading forex for more than a few years can see that a lot has changed. For the most part, it has gotten messy. And it appears the daily chart is not as reliable as it used to be. My question...
Have you always been a swing trader? I haven't done long timeframes, it seems a bit risky to me.
  • #5
  • Edited Jul 19, 2025 12:21pm Jul 18, 2025 10:51pm | Edited Jul 19, 2025 12:21pm
Quoting here2there
I am aware that scalping and day trading are quite popular here. If you are this type of trader, then this thread might not be suited for you as it primarily concerns swing trading. That being said, it is a fact that the daily chart has been known to give the most reliable signals when it comes to price action trading. But I am sure most people who have been trading forex for more than a few years can see that a lot has changed. For the most part, it has gotten messy. And it appears the daily chart is not as reliable as it used to be. My question...
I used to be a daily chart trader, well, i wasnt trading based on the chart but it was long term, position trading that i used to watch on the daily and 4hr charts. I did it for quite a long time (about like 3 years)

It was good in trending markets. Like the bull run of 2020-2022 and the bear market of early 2022 to late 2022. But during the reversals and choppy markets like late 2022-early 2023 it sucked. That's when i left that approach.

Now i trade major news/events as much as i can. I just trade for a few hours if not minutes and thats it. Somedays if there's no significant news then i just don't trade at all. So we can say that i trade very short term and very small timeframes such as m1 and m5.

Trading the news is also very tricky, but the main advantage of it over the longer term position trading is that i am exposed to a smaller risk. I dont have to worry about my trades when i am going to sleep, i dont have to cross my fingers that nothing bad happens today, i dont have to check my trades every 5 minutes when i am out with friends and family.

It's just stress free. I am almost always in cash and waiting on the sidelines for the perfect moment. I don't trade until i have a clear plan. And for that reason i am not exposed to the randomness of the financial markets, geopolitics, Trump's tweets etc. and even if i am exposed to those risks, my exposure is minimal compared to a guy who keeps his positions open overnight + over the weekends.

But here's the thing, there's a lot of ways to skin a cat. Long term position trading is still doable in my opinion. Sometimes these random news and updates can boost your trades, or when they eat up your profits a bit and pullback, you can add to your trades as it pullbacks (with a sound risk management ofc) so you can see these "bad news" as discounts if you have a clear direction in mind.

But then you have to be ok with 200-300 pip drawdowns even in major pairs, so it requires big capital and small leverage. So that u can keep buying the dips/selling the highs.

All in all, it's possible to find success with both approaches. What's really important is the narrative though. As traders, reading the room and knowing how to interpret the data is what matters the most imho. Not the trendlines, fancy indicators etc.
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  • #6
  • Edited 4:26am Jul 19, 2025 4:14am | Edited 4:26am
Quoting here2there
I am aware that scalping and day trading are quite popular here. If you are this type of trader, then this thread might not be suited for you as it primarily concerns swing trading. That being said, it is a fact that the daily chart has been known to give the most reliable signals when it comes to price action trading. But I am sure most people who have been trading forex for more than a few years can see that a lot has changed. For the most part, it has gotten messy. And it appears the daily chart is not as reliable as it used to be. My question...
I should say I trade 1, 3 & 10 min charts daily for income and then for my pension funds daily and weekly time-frames

Markets work out in CYCLES - these occur on EVERY time-frame

I trade my pension fund from Daily and Weekly charts - pretty successfully

But I don't constantly trade the same market - what I do is have my method and then I have to find it amongst all the markets out there - lets say for example I trade double bottoms (which I do) - they don't show up on the same market every day, they occur every now and then, so you have to hunt for them - this is akin to standing in a cube and having 1000's of coloured balls thrown into the cube, I'm just watching out for the golden coloured balls

As soon as you try to trade constantly the same market you enter the realms of guessing and guessing = gambling and we all know most gamblers don't make money - I want virtually certain trades

Then in between the double bottoms I'll search for other set ups that i have

Here's a recent example - this is a UK stock - WEEKLY chart was moving into a DB possibility

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Well if it was going to be a genuine DB - PRICE HAS to do something on the lower time-frames

Namely it HAS to bounce from the DB zone - if it doesn't, you don't buy it

Not shown is the lower time-frames, the 60 min formed trend reversal markers, higher highs/lows etc


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If you traded this on the daily chart it made circa 4R profit, if you traded it on the hourly chart it made circa 7R

Then it just comes down to the old laws of probability and expectancy

That one market gave a DB back in Apr 2023 and another triple bottom formation in Oct 2023 too - the April 23 one wasn't good as the overall CYCLE of the market was still DOWN, then the cycle turned up and you got a decent move

anyway, there is NO rule that says you have to trade the same market all the time or try to predict its moves - believe me it is impossible, if it were possible, we'd be able to predict precise price levels and that can only be done for a portion of the time, not all the time

Current live trade from last week - barring a gap down, we're up 3-4R on the position

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  • #7
  • Jul 19, 2025 5:02am Jul 19, 2025 5:02am
None of this is new - Gann was telling us about double and triple bottoms back in the 1900's

This is from the 1980's/90's and proves the "CYCLE" theory - Its one of the easiest ways to make money from the markets

IF the weekly is going UPWARDS, then its got to drag up all the other smaller time-frames - this is fact and law of the markets - the hard part is working out when the up starts and ends, but it can be done, using factors not shown

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BUT, where people fail, is they think they are smarter than the markets - they try to explain every twist and turn (which is absolutely Impossible) and express their will onto markets, sometimes they'll get lucky! but not consistently enough

Just work out your trading style, test it, work out its expectancy, then hunt for it on all time-frames

Remember - If the HIGHER time-frame should go UP or is going UP, then it WILL (if its going to work), it WILL drag up ALL of the lower time-frames, from which you can profit from
  • #8
  • Jul 21, 2025 6:27pm Jul 21, 2025 6:27pm
Live Trade – USD/CAD
BUY : 1.3700
TP1: 1.3800
TP2: 1.3825
SL Trail if in profit
Stop Loss: 1.3650
Market moving in our favor – manage your trade accordingly!
TP targets are a bit extended — you’re free to exit earlier with smaller gains .
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  • #9
  • Jul 31, 2025 7:39pm Jul 31, 2025 7:39pm
Quoting Thtpro
{quote} I should say I trade 1, 3 & 10 min charts daily for income and then for my pension funds daily and weekly time-frames Markets work out in CYCLES - these occur on EVERY time-frame I trade my pension fund from Daily and Weekly charts - pretty successfully But I don't constantly trade the same market - what I do is have my method and then I have to find it amongst all the markets out there - lets say for example I trade double bottoms (which I do) - they don't show up on the same market every day, they occur every now and then, so you have...
I recently started cycle theory and i was wondering what can i use to refine it
i recently started finding lower time frame cycles and ive been trying to trade them but i struggle with 2 things: the noise on the lower time frames and catching the cycles at the right time
i read the book you pointed out in ur thread a couple years back with robert miners and it seems bressert literally only wrote one book so i was wondering how can i expound upon my cycle knowledge
i am quite unsure for what to look for as it seems other cycle analyst have a different view from bressert and im not sure if it is more information i need about cycle or if im looking too much for one correct answer
thank you for ur time -bigby
  • #10
  • Last Post: Aug 1, 2025 9:29am Aug 1, 2025 9:29am
Quoting here2there
That being said, it is a fact that the daily chart has been known to give the most reliable signals when it comes to price action trading.
...
For the most part, it has gotten messy.
...
And it appears the daily chart is not as reliable as it used to be.
The historical price chart does not change per segmented time frame. Nor does reliability in the past forecasting the future. If you're looking for chart confirmation or pattern recognition, you'll always enter at a worse price. Trade the right side of the chart only.
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