First I never taking trade based on M5 confirmation. If you will see most times you got first confirmation on M1 and after that confirmation on M5. I have just one exception when I am taking trade based on M5, it's bounce from important line (support, resistance, round numbers), but always watching M1 trix. For example: I got sell confirmation on M5, all conditions are met (important M15 Fast trix must be red, 30 min Fast trix can be red too for safety entry). After that I watching M1, if I see bounce from important line, price is below Coral and cloud, Fast trix is red so I am taking this trade.
But mostly I take trades with M1 confirmations. M5 confirmations are very risky for me.
But mostly I take trades with M1 confirmations. M5 confirmations are very risky for me.
DislikedI got a rather similiar trade, but my entry was slow because I based on M5 for my entry.
Heads up when m5 trix cross. I had patiently waited for m15 trix to change to the same colour. However, bu the time m15 trix changed colour, it was a little late, I enter the trade anyway. Missed my tp by 1 pip and goes the way back! Exit immediately when m5 trix changed colour. Result: +3 pips.
Question: How important is it that we wait for m15 trix colour change? It seems that if we waited for the m15 trix, the entry might already be late.
For discussion....Ignored
