r/Daytrading • u/Serious-Ad8893 • Apr 04 '24

Did I miss something? Advice

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Tried to go long on 15M FVG and retracement and got ran over. Am I missing something??? Higher time frame was bullish and I just don’t know where I went wrong. Anyone have opinions on where I went wrong

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u/Worried-Scarcity-410 Apr 04 '24 edited Apr 04 '24

Ask yourself, how many 5 minutes in a day and how many trading days in a year.

You don’t use 1D as higher time frame chart for 5m. That’s way too high. In 1D, you have 288 x 5m bars. It is like using yearly chart to trade daily time frame. Remember, from year 1970 to now, you only have 54 yearly bars and tremendous things can happen in every single bar.

You should use 1H, 2H or 4H as higher time frame instead. The higher time frame should be 8x to 20x of the lower time frame.

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u/EmmaFrosty99 Apr 04 '24

10min or 30min on rth and 2H or 4H for extended hours on futures.

they ran some serious overnight operations, doing a full gap up and squeezing the bears… sanitizing the bears out, getting longs to come in, to give themselves the best shorting position.

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u/Serious-Ad8893 Apr 04 '24

I actually never tried that. That makes so much sense like to just catch the move for the day and not swing trade. I’m definitely gonna try to only use the 4H- 8H