Sunday, February 17, 2013

4hr charts - 2 or 3 trades a week

Based on RSI crossing its signal line, as a general rule the 4hr chart will give 2 or 3 signals a week. Perhaps 4 if its particularly choppy. Based on this very simple observation could you use this information in your trading plan entering from 15 min chart?

Don't use RSI cross? How about price opening one side and closing the other side of 8lwma?

Together with some of the most basic trading concepts and you can add to your plan. Did the 4hr give a double top/bottom, higher low/lower high, stall at a certain level for some time (is there a support/resistance level or W pivot), revert to trend? If you are already in a trade and 4 hr then signals could you stay in longer?





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