Master market analysis techniques to win in trading!! Scatore Futaba’s Technical Dojo | Episode 6 [Thinking about Entries] ③ About specific entries
He rode the stock day-trading boom to become a full-time trader, but suffered a heavy loss due to the subprime loan crisis and retired. He later discovered FX, spent two years as a part-time trader, and by the third year became a full-time trader.
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※This article is a reproduction and editing of an article from FX攻略.com January 2021 issue. Please note that the market information written in the text may differ from current market conditions.
Trading on lower timeframes in line with the higher timeframe trend
This time, we’ll discuss a concrete entry. The higher timeframe mentioned here refers to timeframes such as the daily, 4-hour, and 1-hour charts—anything at least 1 hour. The lower timeframes are 15-minute, 5-minute, 1-minute charts, etc., anything under 15 minutes. First, I’ll share basic entry concepts.
◦Enter in line with the trend on the higher timeframe
◦Time entries on the lower timeframe and exit on timing
This is my basic entry concept, and I think the key is to enter in line with the larger trend on the higher timeframe. I use this as the base to develop my trading methods for entries and exits.
