Daily and 4hr Price Action Strategies

Not everyone is able to sit at the computer for hours a day and trade.  In fact, many of you have full time jobs, family lives that keep you busy, yet you still want to be able to participate and trade in the market.

A lot of times, these are the emails I get from people, whereby they have the lives above, and only have a couple hours to trade after work.  You don’t want to actively manage positions throughout the day because of work and are looking for a simple way to trade.

If this resonates with you and your situation, I recommend trading rule based daily and 4hr price action strategies.


1)  If a strategy is rule based, then all the rules are clearly explained to make a trade.  A rule based strategy generally goes something like this;

Conditions A, B and C have to be in place to make a trade.

If you do, place your trade at X, your stop at Y, and your targets at Z.

rule based strategies 2ndskiesforex.com, price action strategy

Obviously i’m paraphrasing, but as you can see, rule based systems make everything very clear to find and trade setups.

If you are having to constantly look for discretionary elements, levels, etc., that takes more analysis and time – something of which is very limited for you.

By having rule based strategies, it simplifies the trading process for you so you can spend more time taking trade setups instead of analyzing and deciding if you actually have a trade or not.

2) Use Set and Forget Strategies
Along those lines, since you cannot sit for hours, I recommend using set and forget strategies.  This means you do not have to manage them as they continue, or have stops based on indicators.

Sure, if you had hours to sit per day and could actively watch the markets, then there are some strategies I would consider managing, especially if they were designed to go for runners.

But, I also have price action strategies which are completely quantitatively based over 10 years, meaning the statistical edge has been demonstrated over the last 10 years.  Thus, if you trade them as is, going for a fixed target, you can and will profit based on their edge.

daily and 4hr price action strategies 2ndskiesforex.com

3) Daily and 4hr Price Action Strategies

First off, there is nothing wrong with trading intraday time frames, using anything under 1hr charts.  There are traders making money on every time frame across the board.  The time frame is not so important, but more a personal and stylized preference (also availability).

However, with limited time to find setups, monitor charts, etc., I recommend the daily and 4hr charts.


Generally, the lower the time frame, the more detailed analysis you have to do and more variables you have to incorporate.

More details + more variables = more time needed to make trade decisions.  And time is commodity you have less of.

Statistically, various patterns such as pin bars, inside bars, engulfing bars, etc. can and will test statistically strong for various pairs.

But plug the same method and system on a 30m time frame or less, and the accuracy diminishes tremendously.  In fact, accuracy for these 1 and 2 bar systems tended to degenerate tremendously below 1hr time frames. Now it should be noted this is not the case for all systems, and our statistics indicate some systems actually perform better on the 1hr time frame vs. the daily chart, so its not a linear relationship.

Now getting back to the point, 1 and 2 bar patterns are pretty easy to spot and take little effort.  But if you have to know the overall trend, then the 1hr trend, along with support and resistance levels for the day, then zoom in to your 5min time frame to read the price action and how its reacting to that level, that can take more  time to analyze, find and trade.

However with the daily charts, these are much simpler as you have one main candle to analyze for the day and the overall trend can be easy to spot.  With the 4hr chart, only 6 per day.  So overall, much less work, yet still enough to keep you active on a daily basis.

Along those lines, there is one last key point I want to make

a) Server Time
Not all server times perform the same.  Generally, there are three major server times broker platforms are set to
GMT/London Midnight
NY Midnight
European Open

Another possibility is the NY daily close.

correct server times for trading price action 2ndskiesforex.com

I have actually statistically tested about 11+ price action patterns across all server times, and their performance can vary incredibly.  Some people state the NY Daily Close is the best.

But statistically, this time fails for many patterns and pairs.  In fact, a pairs performance can vary wildly for the same price action pattern across different server times.

Crucial information?  Absolutely!

Imagine you are trading an inside bar pattern on the daily time frame for a certain pair, based on the NY Daily Close.  But statistically, that pattern is < 40% accurate.  Would you want to know that before trading it? Hopefully so.

Some pairs did statistically better across several server times, but completely failed on another for one price action pattern.  Yet on the same server time they failed on for pattern A, they profited highly on for pattern B.


Volatility and order flow for that pair in relationship to the sessions. That plus the type of pattern all played a part.

Regardless, server time is key and it is critical you understand how your price action pattern performs, whether it’s a pin bar, inside bar, engulfing bar, or whatever.  Information is key here.

In Conclusion
For those of you who have very busy lives, with a full-time job, family, and general commitments that you are unable to sit and trade for hours, there is a way for you to trade and participate in the markets, while not having to stay up all night.

For this, I recommend trading Daily and 4hr price action strategies that are rule based, easy to manage, yet allow you to be engaged in the market and able to make money.

Generally set and forget strategies will be easiest to manage, while also making sure the server time is appropriate for your strategy. If you have all those in place, then you can trade on a weekly basis, make plenty of trades to be engaged, not have to hold positions for days on end to see a result, and only need a few hours to trade per day.

I hope this helps for all of you who fit into this category and that you found this article informative and useful.

Please make sure to leave a comment below and your thoughts on it, along with clicking the like button :-)

Kind Regards,
Chris Capre

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article

  • TasosK

    Another great, eye-opening article! Thanks Chris.

    • De nada, glad it helped and thanks for the kind words


  • Eric

    Hi Chris,
    Yes, these are the timeframes that suited me for the moment and also what I am trading on now. You have also pointed out the server time which is very true. So which server time work best for your H4 and daily TF strategies?

    • Hello Eric,

      It really depends upon the pair and the system because the performance varies significantly depending upon the system and pair.

      For example, some pairs do really well with inside bars on the NY close, but others fail miserably. Yet those same inside bars
      and pairs that fail miserably on the NY close, do really well on the London open, so depends upon each one.

      This information is available to those in my Price Action Course which you are welcome to join.

      Hope this helps.

      Kind Regards,

  • AgneePath

    Hello Chris,

    Very interesting post, enjoyed reading it. With good information for thought.

    Their is however one thing what comes in my mind about the practicality of using different server times.
    As you stated that patterns perform differently with different pairs on different server times. But you only have one
    of the server times with one’s broker of choice. Unless of course you have a broker for each server time, I find it a bit
    unpractical! What is your view on this and how do you of your students manage this?

    • Hello Agnee,

      Some good questions here.

      First off, many of my students end up just trading one server time which is totally fine. If you have the right server time, you can be plenty active
      in terms of finding setups and pairs.

      This is the most simple approach.

      Some students just run two demo accounts for the best server times, yet still trade off of one account/broker. You don’t have to have multiple accounts to trade another server time, just the charts for those signals.

      So both of them are viable options, but none of my students ever really have any issues with this.

      Hope this helps.

      Kind Regards,

  • samuel

    GMT/London Midnight
    NY Midnight
    European Open
    NY daily close

    could you suggest brokers with these 4 server times. it would be interesting if i could confirm a pattern successfully in majority of them. then that pattern would mean its a strong pattern.

    • FXCM UK
      FX Pro

      not sure who uses NY daily close, but I don’t find it necessary at all to confirm my signals across multiple server times.
      Neither do my students or traders so seems like an unnecessary process to find good signals.

      When it doubt – keep things simple.

      Hope this helps

      Kind Regards,

  • Stan

    Hello Chris,
    Another great article I’m just getting to. I am in the process of changing things so I have the NY close charts. Just feels better for me.
    Keep up the good work and best wishes to you and yours!


    • Hello Stan,

      Glad you liked the article and content and good luck trading.

      Kind Regards,
      Chris Capre

  • Haider Hussain

    Hi Chris,
    Fantastic article – thank you for posting it up for all to read.
    Being new to forex would you advise to initially start trading with these time frames?

    Best regards
    London, UK