I daytrade the emini futures using 1 min and 3min charts . My problem is that I am often unclear which time frame should be my lead indicator. 80% of my trades last 3 to 15 minutes.Anyone have any advice? Thanks.
Top-down is the most logical to determine direction. Daily-60-15- etc. Then I would take signals from the 1 min chart,3 ,5 etc
"Top-down is the most logical to determine direction. Daily-60-15- etc. Then I would take signals from the 1 min chart,3 ,5 etc" Personally, if you are trading real short term (ie 5-15 minutes), daily and hourly trends seem to be meaningless. The market can be so choppy that I find these longer term time frames are just not robust enough.
The longer the timeframe the more reliable the pattern/trend, the shorter the timeframe the more it will lead the others. What you choose as your timeframe is up to you rtharp