DislikedThanks for a great thread Darren. I find all the time frames confusing. Just to clarify with the 5m entry. You mark the high and low of the current daily candle. When price reaches the H or L, you wait for an engulf on the H1 and then drop to the 5m and enter on the close of another engulf in the same direction of the H1 engulf, unless you have an H4 counter trend engulf then you can trade counter on the close of a15m engulf. Also, would it be better to look at the overall trend and trade the next pullback daily as in your image above and target...Ignored
yes to go straight in with all the timeframes is very difficult. But we don't have to trade like that. If you just take h1 engulfs at the extreme's (current hi or low of the day) then drop to m5 for an engulf - you will do fine. It will also get you into the groove of how price moves at the SR. If you do a few weeks finding the high and low of the day you can then move onto finding the high and low of the H4 when you have missed the high and low of the day... it's a suggestion and I trade like that a lot of the time my self...
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