Weekly Chart Trading

I only trade the 4 hour chart but recently I have been interested in trading the weekly chart. Checking the charts a couple of times a week greatly appeals to me, i'm someone that trades to live, not live to trade. The less time I can spend on the computer the better as far as i'm concerned.

From here on in I will be DEMO trading the weekly chart until I feel comfortable enough to trade my own money.

I would love comments, analysis or help as to how you trade the weekly chart. You can never stop learning.

The thing I will be focusing on most is the entry, unlike on the 4 hour chart where you can just buy on an engulfing bar for example, the weekly chart will fluctuate a lot more. Again, any suggestions or examples of previous weekly chart trades would be most helpful.

Good luck trading everyone,

BeTrue

@BeTrue am looking at USDCAD weekly chart together with AUDNZD weekly chart, they look like attractive reversal points, what do you say?

USDCAD: Attached is the Daily chart, definitely looks like it could be doing something soon.

AUDNZD: Last weeks pinbar does look interesting, lets see how this week finishes.

Both trades are counter trend which I don't do.

Personally I only trade once a trend has been established and hop on the pull back, preferable rejecting a pivot zone or 10/21ema.

I hate picking tops and bottoms as you mostly get burnt. It means I miss out on the big wins but it's what works for me...

Comments on chart;

@BeTrue My entries are Usually counter trend and are coupled with new fundamental information supporting the change of trend.
My targets are short: 50-300 Pips on average

Apologies if my comment came across as critical, counter trend trading can be very profitable. I just prefer buying/selling the retracements as it's what i'm used to.

It's going to take a while getting used to weekly charts, i'm so used to 4h.

I wish you all the best with your trading...