Question about Trading Retests (examples)

[iamnewuser911]

1) We see a Resistance Level Broken on the chart however price has not retested for entry. http://prntscr.com/cyc99n

2) However on the lower time frame such as 15minute it has retested. http://prntscr.com/cyc9qt

So which one should I follow? Wait for hourly to retest? Or go down to a lower time frame where the support resistance level is still visible and look for a retest there?

 

[ajcrshr]

You would want the timeframe where you can actually see what its doing if you are playing levels

 

[harami]

So which one should I follow?

Neither one. There's something wrong with your trading platform that needs sorted out.

 

[Statistical Trader]

Maybe I haven't had enough coffee yet but this makes zero sense. Why would it show price hitting (104.202) on one time frame and not on the other lol.

Neither one. There's something wrong with your trading platform that needs sorted out.

It makes perfect sense! Go grab another coffee, ajcrshr. There's nothing wrong with the trading platform, harami.

The retest on the 15 minute chart occurs within the same bar as the breakout (the second last one) in the 60 minute chart. That is to say, the second last bar in the 60 minute bar contains all the data displayed in four bars in the 15 minute chart, which includes the bar with the breakout and the bar with the retest.

Sorry, OP, I can't comment on what to do. I don't use much technical analysis personally.

 

[ajcrshr]

It makes perfect sense! Go grab another coffee.

The retest on the 15 minute chart occurs within the same bar as the breakout (the second last one) in the 60 minute chart. That is to say, the second last bar in the 60 minute bar contains all the data displayed in four bars in the 15 minute chart, which includes the breakout and the retest.

Sorry, OP, I can't comment on what to do. I don't use much technical analysis personally.

Haha, yeah I figured that out after a few more sips lol

 

[protrader880]

1) We see a Resistance Level Broken on the chart however price has not retested for entry. http://prntscr.com/cyc99n

2) However on the lower time frame such as 15minute it has retested. http://prntscr.com/cyc9qt

So which one should I follow? Wait for hourly to retest? Or go down to a lower time frame where the support resistance level is still visible and look for a retest there?

If you drew the line in on the daily, then use the same time frame for an entry. Don't use a lower time frame to gauge the move, meaning no, don't look for a retest on the 15 min unless the daily "confirms" the move or retest - lines aren't always respected. Most break, but also some act as "false" breakouts. You need to know what to look for or else you'll get caught holding the back every time. Message me if you need help.