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Lower Time Frame Signal Interpretation (DAX Example)
I have found that many of the signals I miss on the 5 min chart is easily seen on the 1 min chart as good signals. For this reason, I want to discuss if the 1 min chart could be used as small secondary chart to use only when an unclear signal on the 5 min is forming. I currently don't do this, but I'd like to hear from some experienced traders.
I know many of you are die-hard fans of sticking to one chart, but it seems like I need a lot of experience to interpret these unclear signals correctly on the 5 min chart. A lot of the signals are implied, like shorting a pair of bull bars in a bear trend, which may simply be a 2-legged pullback with a good sell signal bar for a stop order entry on the 1 min chart.
Please review all the pictures below. The first chart is a 5 min chart and the following charts are 1 min charts of the same setups.