The power of lower time frames

Use lower time frames to fine-tune your entries. For instance, if you trade in the direction of the daily trend, enter your long trades on the basis of signals provided by the 4-hourly or the hourly candlesticks. Take advantage of counter-trend moves by entering the market trend as soon as the corrective motion is coming to an end.

In case of uptrends on the daily, go long as soon as the retracement lower seems to have come to an end. This is the case when hourly candlesticks show signs of a bullish reversal, such as new local highs, breakout above MAs or bullish flags.

Your stop-loss order can be placed below the most recent candlesticks. As the trend is moving in your favor, trail your stop higher and enjoy the ride.