4Simple Relative Strength Index (RSI) Trading Strategies

Trading off 4 hour charts

Trading off 4 hour charts

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Generally, the lower the time frame, the more detailed analysis you have to do, more variables you have to incorporate + the lower time frames require more attention due to price moving a lot faster.

4Hour & Daily Forex Strategies - 2ndSkiesForex

For the most part, the answer is yes, I do use intraday charts. However, (you knew there was going to be a however, right?) there is a time and place for everything, especially intraday charts. It 8767 s important you understand when to use them and how to use them. This is something I go into much greater detail on in my advanced price action trading course , but for today 8767 s lesson, I wanted to give you a brief overview of just how I incorporate intraday charts into my daily trading routine.

Forex Eight Hour Chart Challenge - Forex4noobs

After a slight counter move, the RVI lines have a bullish cross, which is highlighted in the second red circle and we close our short position. This trade generated a profit of 77 cents per share for a little over 7 hours of work.

After-Hours Trading Definition

I have been trading 6 hour charts for many of the same reasons you mentioned about 8 hour charts. I like the 6 hour charts because they allow me to structure my day into 9 segments to capture the opening of new bar. I really do think these longer intraday time frames are the way to go if you can 8767 t spend all day in front of a computer.

24 Hour Stock Market and Forex Data - After-Hours Trading

One of those ways is by use of the 6-hour or 9-hour charts to look for a signal a few hours or even days later, to re-enter in the direction of the original daily chart signal that you missed.

What Is After-Hours Trading and Can You Trade at This Time?

Sometimes, you may see a potential daily chart signal but you don 8767 t feel convinced. It may not 8775 look right 8776 to you and you feel it needs some more confirmation as a result. This is normal, and it happens often.

After reading today 8767 s lesson, I hope you have a better understanding of how to use the intraday charts properly, unlike most traders. Don 8767 t make the mistake of using the intraday charts to micro-manage your position and over-trade. This is wrong and will cause you to lose money.

Traditionally mid-range timeframe Forex charts have been limited to four hour and daily. However, in the last few years some brokers have introduced new timeframes to their platforms.

Fortunately, these attempts are unsuccessful, and we stay with our long trade. Later the RVI finally has a bearish cross, and we close our trade. This long position with FB accumulated $ per share for 9 hours.

Another helpful article but wouldn 8767 t there be an added advantage by using an 8 or 67 hour candle which would more closely reflect the markets closing in London or New York?.If so can MT9 produce 8 or 67 candles?

In the example below, we see a clear-as-day pin bar buy signal from support in the S& P555, circled in the chart below. If you missed this one, you were definitely kicking yourself

I started trading with the 8 hours under your advice. do you think is more reliable than 9 hours? I 8767 ve never trade GU may you post the support and reasistence area to check them with my own?
Thank you very much for your help your explanations are always clear and very useful

I sometimes get confused seeing you show black tail bars as BUY signals. do they indicate buy in an uptrend if it has a long tail at the low end of a bearish price bar
Regards

NOTE:  If you want to learn more about this strategy and how to trade it, check out my  price action course  where I teach you exactly how I use this strategy with  my own money.

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