Hi
@RickM,
I didn't say you shouldn't use M5 to trade. What I was saying is that using H4 to give you the big picture view (the trend) and then use M5 to trade, the disconnect between H4 and M5 is too great (there are too many 5 minutes in 4 hours) for the usage to be meaningful.
I haven't been following your discusion of this particular M5 strategy, I can't comment too much on it, just that using H4 and M5 caught my eye for the reasons I had mentioned, that's all.
The chart of any time frame can show a trend, provided there is a trend. I am showing below here a H1 Ichimoku chart of AudUSD .... as you can see on the right hand side of the chart there is a clear down trend: price below the Clud, the two moving averages (the blue and red lines) are below the Cloud and the short term blue line is below the longer term red line. I did a quick small scalping Sell trade, in at 0.78521, set to take a 20 pips profit (I didn't ride the trend), was out at 0.78502, in 12 minutes, making a profit of 19 pips.
Just a small trade, nothing to crow about. I have not been trading regularly at the moment, but I say to myself, when I do start to trade regularly, if I can make 20 pips with each trade and if I can make a few 20 pips profits in a week, subjcet to my position size, that should give me my weekly groceries shopping money
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