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Al talks about being able to use higher time frame charts (daily) for support and resistance, and lower time frame chart (1h) for entries. Is it okay to do it with 1h as support and resistance, and 5 minute as daily? For example, IF the 1h chart is in a sell the close bear rally, there will be a small wick on top of bars, on the 5 minute chart this would be an early bull move in the beginning of that 1h that failed. Would this work, oR is there something technical that would be missing from this? I only see him talking about using daily charts as higher time frame in the course.
Is it okay to do it with 1h as support and resistance, and 5 minute as daily?
Yes!
I only see him talking about using daily charts as higher time frame in the course.
He uses many times frames, including the 60 min and daily for his 5 min trading. He warns that beginners better not do that and stick with one chart. All you need is in the 5 min chart, so he recommends to learn to correctly analyze that chart first, and then add higher times frames. The reason behind is that many times you will get conflicting info from different time frame charts and this will hurt you instead of help your trading...
