Q1: Ideally, they both should be going the same direction, but it's a personal choice. Sometimes I'll take a trade on a 4 hr. chart if most of the indicators (but not all 7) on the Daily chart match the 4 hr. BUT, I almost never enter a trade if the ...

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It is many bars passed the crossover but what I would have considered even more so is that the Daily chart is still technically in an uptrend.

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*

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YES

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I ignore the news 99.9% of the time. The only time I pay attention to it is when it is a HUGE WORLDWIDE NEWS EVENT, like the Brexit vote was.

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I KNEW when I wrote that that someone would question me on it, so I'll explain it now. I don't use support and resistance to make trading decisions. I only make trading decisions based on the indicators. BUT...when I see a previous low out in the ...

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Thank you, and good luck!!

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It's getting near previous support.

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You're welcome. Yes, all looks good at the moment. But I also think that it's very likely that it's going to be bottoming out within the next few 4 hr. bars. SO, when you see 2-3 indicators change color and/or cross above the Purple 50 Line, I would ...

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Q1: YES Q2: I day traded all day every day for many years and I was also position trading at the same time. A world famous trader told me that day trading was akin to having a slot machine on your desk that you feed all day long, and he was right. ...

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I take trades any time of the day or night if I am awake. Yes, I trade mostly the 4 hr. charts and sometimes the daily.

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Here's another GREAT trading book. Enjoy! file

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As far as I know, the MT4 brokers set the time and you can't change them. However, there is an indicator called: JF_TradingTimes where you can program horizontal lines to be shown on a chart to mark whatever times you want. file file

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You need to change your Japanese Candles to OHLC bars. After you do that, on the Daily chart the candles will be red/red and then you will not have ANYTHING telling you to exit the short trade.

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You are very welcome.

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YES

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It "could" be a good trade. Don't overthink it. If you get the signal, take the trade. Some win, some lose. It's really no big deal.

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I look at it like this... If 90+% of traders lose and 90+% of traders use that stuff, then maybe that stuff isn't the right stuff to use.

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Congratulations!

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Good job!

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