I thought I would share a system I have been working on for alittle while now.
MTF Trading is extremely important as most traders know. For this strategy we make sure to always incorporate a larger time frame.
Monthly Trend/ Weekly Entries
Weekly Trend/ Daily Entries
Daily Trend/ 4 HR Entries
4 HR Trend/ 1 HR Entries (Special Rules)
(I don't dare trader lower then the 1 HR time Frame and honestly prefer the 4hr)
Every morning I review the Daily and 4 HR Currency Strength and write down a physical list of Strongest and Weakest pairs. Once I pair the strongest with weakest I know what to look for.
The Anatomy of Our Trend Chart
Anatomy of our Entry Charts (4 HR and Greater)
Anatomy of 1HR Entry Charts
Now lets throw this all together. Here is an example of a trade taken last week on the $EURJPY (Daily Trend/ 4 HR Entry )
Here is a video link Explaining it a little better.
http://screencast.com/t/1YdpV8g4
Again this works well with most any time frames (but again I would not go lower then the 1hr) and is great for a trader who only has time for daily charts as the principle is the same.
Hope Someone Finds this Useful!
MTF Trading is extremely important as most traders know. For this strategy we make sure to always incorporate a larger time frame.
Monthly Trend/ Weekly Entries
Weekly Trend/ Daily Entries
Daily Trend/ 4 HR Entries
4 HR Trend/ 1 HR Entries (Special Rules)
(I don't dare trader lower then the 1 HR time Frame and honestly prefer the 4hr)
Every morning I review the Daily and 4 HR Currency Strength and write down a physical list of Strongest and Weakest pairs. Once I pair the strongest with weakest I know what to look for.
The Anatomy of Our Trend Chart
Anatomy of our Entry Charts (4 HR and Greater)
Anatomy of 1HR Entry Charts
Now lets throw this all together. Here is an example of a trade taken last week on the $EURJPY (Daily Trend/ 4 HR Entry )
Here is a video link Explaining it a little better.
http://screencast.com/t/1YdpV8g4
Again this works well with most any time frames (but again I would not go lower then the 1hr) and is great for a trader who only has time for daily charts as the principle is the same.
Hope Someone Finds this Useful!