I make my living trading FX. I am not a novice trader nor a novice at MT4. Starting in August, my results began to fluctuate and I started looking for reasons. Here is what I've found. My strategy... btw... primarily utilizes trendlines. But if this is happening with trendlines, I'm sure other "objects" are suspect as well.
My chart setup is simple... Draw major trendlines on DAILY chart, then use 1H chart to fine-tune entries.
From images below, you can see where my entry using the DAILY chart on EurUsd last night shows a good entry - waiting for price to go up to green trendline, then go short.
Looking at the HOURLY chart, however, shows that my entry was horrible. Up in the air and going short when price is about to run into major support (green trendline). So... which time frame do I trust? (The hourly proved to be correct, as this morning, price bounced off that trendline as expected)
My chart setup is simple... Draw major trendlines on DAILY chart, then use 1H chart to fine-tune entries.
From images below, you can see where my entry using the DAILY chart on EurUsd last night shows a good entry - waiting for price to go up to green trendline, then go short.
Looking at the HOURLY chart, however, shows that my entry was horrible. Up in the air and going short when price is about to run into major support (green trendline). So... which time frame do I trust? (The hourly proved to be correct, as this morning, price bounced off that trendline as expected)