DislikedHi Gibril,
I was waiting for what could have become daily resistance level to break before looking to go long. Can I ask what made you believe this level wasn't important?
Cheers
SteveIgnored
Hi Steve,
sorry for late reply.
When I enter an intraday trade, i usually goes up to 4 Hr TF for reference point, because the nature of trade, ie, Session trade ( Asia, LO or NYO). Therefore the need to explore into superhigh TF is not in my game plan ( I remember Master Arjun use Daily to check jis trade set up)
With 4Hr TF Chart as SET UP before entering a trade , I utilise both Static and Dynamic Support in this TF. ( detail in Chart attached).
The discusion earlier I had with others was on SL that was not moved to BE , even when the trade already goes into my favour for > 20 pips. Trying to explain to others, i have no worries with those trades, as ( in my own understanding) the road ahead is clear till ADR. Meaning there is no immidiate resistance nearby until ADR High.
The simplest way of looking to enter this trade is by 1,2,3 break up.
For me using Daily TF for intraday trade is not necassary, unless i go for swing or i really cannot makeup/ understand what's price behaviour currently.
Trade Journal Post No. #228 and Post #9887 . These two use Daily TF Chart Analysis as it involved Swing Trades.
Note : Wicks is Daily candles are emotional, you have to watch that. I look at a lot of Daily Candle wicks......and they are emotional, does not represent true sentiment, unless the same close registered in 4Hr. TF. ( Need more evident to prove this...lol)