DislikedHave you been using matrix as your guide on 1hr?
So for example when they all turn red, below EMA etc. you will look for shorts on 5 min?
Thanks,
GSHIgnored
1. you first want confirmation of the trend/direction in the higher TF (H1): this is because a trend in the higher TFs will generally be stronger, last for longer and give you more pips than a M5 trend (the downside of H1 is that you will need wider SL, you will get fewer signals and probably will have larger drawdown too....)
2. once you have a new signal in H1, the trend will have turned and you will already be quite a few pips away from the previous top/bottom, but that's ok - it's better to miss on a few pips than be trading in the wrong direction.
3. then at some stage you will get a pullback (because price rarely move continuously in the same direction) - you will not take that M5 signal because it is in the opposite direction of the newly formed H1 signal.
4. after that, you will get a new M5 signal that will be in the same direction of your original H1 signal & you will take it because now H1 & M5 are pointing the same way.
Below was a good example posted by Evaluator on the Symphonie thread a couple of month ago (20th June). Find it in your chart on the H1 TF, mark it, then look for the next M5 signal going the 'wrong' way and finally for the good M5 signal(s) after that, that have good pips and little drawdown, because they are in the same direction as the main trend.
http://www.forexfactory.com/attachme...1&d=1340297129
And this, from him too, the same explanation in a graphical way:
http://www.forexfactory.com/attachme...3&d=1332454036
........important: in ranging markets, higher TFs like H1 can be a killer because often they will signal the changes of trend too late and by the time you enter, the market is already turning round the other way ... (there is no such thing as a free lunch in forex).
Oli.
