Disliked{quote} H4 seems challenging to me but that's the TF suits my daily routine. Do you always go by the trend direction of W1 when you take trade on H4? Many times I have seen W1 and D1 are in disagreement (D1 in retracement). Do you discard those trades? For example, USDCAD W1 bullish for very long term D1 bearish (last 2 days were red) Before taking H4 buy trade, would you wait for atleast one D1 bullish bar? {image} {image}Ignored
I use it a different way, sometimes with , sometimes against the trend like a harsh swingtrading for some candles.
As first I zoom it out to see the " supports and resistance " levels .. then I look " where we are " ..
I dont want to trade in a resistance with a long .. same short with a support.
I always make sure its enough space minimum about 150 pips from possible entry !
If its possible , YES I try to jump with the first or second bar colour change back to the main trend !
But its not always possible !
I really decide from moment to moment and not all my trades work well !
About 2 of three works !! NO 90% or whatever !!
I think the big difference is the time!
London/Frankfurt open is at 9 my time .. my brokeer prints at 7 a new H4 candle .. and I only trade the 7 and the 11 am H4 candle normally !
The others are a little different, because US open does very often retrace in the " trend what was formed the session before".. That time Im out with TMS H4.
The new D1 candle getsprinted at 11 pm , what is about one hour later than NY close ..
For the D1 I use the same template , same rules like H4 .. simple and working totally stressless .. normally no SL for me and not with too large lotsizes!
I calculate my drawdown always with a Worst case Scenario with 200 pips against me .. and it shouldnt hurt too much then !
The D1 is working nice , normally I am flat over the weekend so .. give it a try .. trading is boring if you do it right .. but it pays bills by doing nothing!
Guido
Risiko birgt immer auch die Chance.
Good Luck
