Perfect setup 1 on M1 but against purple on M5

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Taffy
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Joined: 22 Dec 2011, 03:08
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Re: Perfect setup 1 on M1 but against purple on M5

Unread post by Taffy »

Hi

just reading posts and came across this, purple line only relevant for 1M. Is it still a guide for the higher time frames as it still applies when the trend is confirmed that the line will be in the correct position relevant to price. Or should you discard it on the higher TFs
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immy
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Joined: 22 Nov 2010, 16:46
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Re: Perfect setup 1 on M1 but against purple on M5

Unread post by immy »

Taffy wrote:Hi

just reading posts and came across this, purple line only relevant for 1M. Is it still a guide for the higher time frames as it still applies when the trend is confirmed that the line will be in the correct position relevant to price. Or should you discard it on the higher TFs
its a matter of preference. what's important is consistency once you take the decision of using or not using it, stick to it. e.g. Using Fruit concept i have simplified my chart and use only 3 indicators but for S1 setup one might need all the support that is a must for S1 setup. Change is good but if you don't know what you're changing then it might be dangerous. Lets stick to basics and stick to the rules.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
Taffy
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Joined: 22 Dec 2011, 03:08
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Re: Perfect setup 1 on M1 but against purple on M5

Unread post by Taffy »

Thanks Immy.
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