Forex Strategies For Trading The 1 Hour Chart

What’s Within?

• Let’s talk near the Weekly, Daily, 4hr & 1hr chart entries
• What daily time frame forex strategies do yous recommend?
• How can I apply price action trading systems on the 4hr nautical chart?

Tell me if this is truthful and has happened to you earlier:

You lot look at the weekly time frame, or perhaps the daily time frame, and the price activeness context looks bullish. However, when you look at the 4hr and 1hr nautical chart, the context looks bearish. Now you lot’re not sure if you lot should go long at your trade location, or be worried nigh that seriously surly trend on the 1hr chart.

Has this (or something like it) happened to you? Always been confused trying to understand the cost action trading trends on the daily, 4hr and 1hr charts?

If so, you’re not solitary as many traders like yourself take challenges in learning this skill. The good thing is,
you can learn how to trade price action on any fourth dimension frame
with the
right training and skills.

In today’s price action forex strategy article, I’m going to share with you
3 tips on how to do toll action trading on the daily, 4hr and 1hr charts
(or any time frame).

If you want to trade like a professional trader, you’ll have to understand price action context across multiple fourth dimension frames. Learning these three toll activity trading system tips volition assistance you lot build a ‘framework‘ for how to trade toll action on multiple time frames.

Price Action Tip #one:
How Do I Know Which Time Frame To Read the Trend?

I of the most important and fundamental ways to look at time frames is to sympathise them by the post-obit photo beneath:

What do you lot encounter in these 3 shots?

Starting on the left, nosotros have the broad lens (18mm) which shows this shore/side of the lake, trees on both sides, and a couple peaks about the top left.

In the centre, nosotros accept a
55m wide lens
which simply shows the short on the other side of the lake. It also shows a 3rd peak which is more hands seen to the upper right.

On the correct side, nosotros don’t see whatever lake, simply one major tiptop, with a well defined white strip of snow and lattice construction on the mountain.

3 lenses, same piece of land.

Now let me ask you this question:
Which ane is ‘right’?
Which one is the ‘most accurate‘? The answer is neither, or meliorate nonetheless, ‘whichever is most important to your needs‘.

And that is how you need to call back of price activity on the weekly, daily, 4hr, 1hr or any time frame for that matter. Each time frame is information technology’s own ‘lens‘ (perspective) near the price action and social club catamenia. Hence each time frame has it’southward ain trend. The central is to pay attending to the time frames virtually relevant to how you lot’ll trade.

Practise y’all have a
full time task
and tin can only merchandise a few hours later on work? Unless you take some solid experience in trading or reading price activity, I’d recommend the higher fourth dimension frames.

For our give-and-take, here is what I consider the ‘higher fourth dimension frames‘:

Monthly/Weekly/Daily/4hr on EURUSD

The overall guide on how to relate to this is:

1)
Look at the
monthly fourth dimension frame chart
if you lot are looking at several years+ worth of price action, and want to hold trades for about a yr or more (oftentimes called ‘position trading‘).
2)
Look at the
weekly fourth dimension frame chart
if you are looking at just a few years worth of cost action, and want to hold trades for several months at a time, perhaps close to a year
three)
Look at the
daily time frame nautical chart
if you are looking to practise ‘swing trading’, and want to concur your trades for a couple days, upwardly to a few months (perchance quarter)
4)
Look at the
4hr time frame nautical chart
if you are looking to practice swing trading, and want to concur your trades for a couple days up to a few weeks (maybe a month)

Annotation:

These are general ‘guidelines‘.
They are not perfect rules.

A few months of price action on 1 chart may accept more meaning/data/key levels/etc than some other forex pair for the same amount of fourth dimension. Y’all cannot bottle price action context and time into perfect rules. Hence utilise these as ‘guides‘, non fixed rules.

If you are someone who has the capacity + interest to merchandise toll activeness intraday (which we support), and then I’d recommend the 1hr downwards to the 5 minute charts. A lot of professional traders day trade.

I have in my trading course several videos showing me trading price action live with my ain money on the
1hr, 5 infinitesimal, 3 minute, and 1 minute charts. Hence remember this:

Price Activeness
as a ‘skill‘ tin can be used on whatever
instrument, time frame or surround.

If what yous’re learning
only
works on specific time frames,
and then information technology’s
non
a existent skill
of price action trading. Just similar adept footwork in basketball works in high school, higher or pro, from offense to defense, it works in all aspects of the game because it’s a ‘core skill’. The aforementioned goes for trading price activeness.

So the first cardinal skill to understanding multiple fourth dimension frame context is:
The trend is based upon time frame.

Price Action Tip #2:
What Daily Time Frame Forex Strategies Do Y’all Recommend?

Many traders (perhaps like yourself) want to trade the daily time frame and are wondering what forex strategies you tin can use. There are many strategies we teach in our trading course, but 1 I’d recommend is a role reversal setup (or
breakout pullback setup
).

This daily fourth dimension frame strategy is all-time used when you are trading with trend. Beneath are three major components for a breakout pullback setup:

1)
find the overall price activity context and tendency on the daily fourth dimension frame
ii)
find a key support level (for conduct trends) and resistance level (bull trends) that has been touched ii times before (at a minimum)
iii)
await for the market to breakout and pullback to the level

If you’ve done those 3 things, you’ve probable plant a skilful role reversal – breakout pullback setup.

There is more to this strategy, (what type of trend you are in, which are key back up and resistance levels, what is the best price activity context to merchandise breakout pullback setups, etc.), but you have the nuts.

Annotation:

If you want to learn more near this strategy and how to trade it, cheque out my Trading Masterclass class where I teach yous exactly how I use this strategy with my ain money.

Now you’ll want to practice this daily time frame forex strategy and learn how to spot these profitable trade setups. Then start with a trading simulator, then demo, and so alive.

Price Action Tip #3:
How Do I Trade Price Action On The 4hr charts?

If y’all’re primary time frame for trading is the 4hr charts, then most likely you lot’re doing ‘swing trading‘. In essence, you lot’re trying to capture larger ‘swings’ in the market.

Without a doubt, you tin can use the breakout pullback setup on the 4hr chart (or any time frame for that affair). Hither are a few tips you lot can use when swing trading the 4hr charts:

1)
Have the daily chart equally your ‘
higher
‘ fourth dimension frame context. When in doubt, endeavour to merchandise with this the nearly.

2)
Don’t expect the marketplace to go straight to your target.

NOTE:

Information technology may crave a few pullbacks before it gets there. Eventually with plenty skills in reading the toll action context, you’ll learn when those pullbacks are part of the trend,
or
leading to a major reversal.

three)
Marking your  support and resistance levels on thedaily & 4hr charts.

I’ve provided an instance below:

In Summary

You’ve at present learned
three toll activity trading system tips
for trading the
weekly, daily, 4hr, 1hr or any time frame chart. They are:

1) The trend is based upon the fourth dimension frame


2) You tin can trade the breakout pullback setup as a daily time frame strategy


3) Merchandise price action on the 4hr chart in conjunction with the daily time frame chart

When yous start to arroyo trading price action context with the strategies and guides I’ve outlined above, y’all’ll build a
framework of skills
for trading cost action on a more than advanced level.

Now Your Turn

What did you learn virtually trading on multiple time frames from my article above?
Do y’all have more answers or questions, and if questions, what are they?
Share your thoughts
and comments below.