I am having some confusion in handling 30 min TF, plz clarify, i wud be extremely thankful.
1)Market opens at 9:55 am. first 30 min candle gets formed at 10:25 am. Then second 30 min candle comes at 10:55 am. What I have understood is that only after these 2 candles would we be able to know whether the 30 min stoch is bullish or bearish and so we dont trade till then. Is my understanding correct ?
2)Lets say at 10:55 we see that 30 min stoch is bullish. So now for next 30 min i.e. till 11:25, we will come down to 5 min TF and see for long signals. Actually I am seeing that some time it is so happening that in between 10:55 & 11:25, the 30 min stoch is turning from bullish to bearish, lets say at 11:10,but I think we cannot see it till 11:25 when the next 30 min candle completes. So this implies that even though 30 min stoch crossed from bullish to bearish at 11:10, we still continue to look for long signal on 5 min TF till 11:25 am and do not revert back to 30 min TF till 11:25 when we get the next 30 min candle. Is my understanding correct ?
3) If my understanding of point 2 is correct, then we come to 5 min TF, lets say 30 min stoch is bullish till 10:55 and so from 10:55 to 11:25 we are looking for long signals. Now do we wait for a fresh crossover in that period or is it like if at that time both 5 min stoch & 5 min ema crossover is bullish(meaning that crossover took place earlier to 10:55) we enter the trade? My understanding is that if both are bullish, we enter the trade and dont wait for fresh crossover.
I would be extremely thankful if Pride or anyone else clarifies these points for me.
1)Market opens at 9:55 am. first 30 min candle gets formed at 10:25 am. Then second 30 min candle comes at 10:55 am. What I have understood is that only after these 2 candles would we be able to know whether the 30 min stoch is bullish or bearish and so we dont trade till then. Is my understanding correct ?
2)Lets say at 10:55 we see that 30 min stoch is bullish. So now for next 30 min i.e. till 11:25, we will come down to 5 min TF and see for long signals. Actually I am seeing that some time it is so happening that in between 10:55 & 11:25, the 30 min stoch is turning from bullish to bearish, lets say at 11:10,but I think we cannot see it till 11:25 when the next 30 min candle completes. So this implies that even though 30 min stoch crossed from bullish to bearish at 11:10, we still continue to look for long signal on 5 min TF till 11:25 am and do not revert back to 30 min TF till 11:25 when we get the next 30 min candle. Is my understanding correct ?
3) If my understanding of point 2 is correct, then we come to 5 min TF, lets say 30 min stoch is bullish till 10:55 and so from 10:55 to 11:25 we are looking for long signals. Now do we wait for a fresh crossover in that period or is it like if at that time both 5 min stoch & 5 min ema crossover is bullish(meaning that crossover took place earlier to 10:55) we enter the trade? My understanding is that if both are bullish, we enter the trade and dont wait for fresh crossover.
I would be extremely thankful if Pride or anyone else clarifies these points for me.
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