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Suppose you look at a monthly chart and everything points to it taking a clear direction, be it bullish or bassist. Would you put in an operation and let it run with a far-away TP or would you rather put a shorter TP, type 30-40 pips, and go adding new operations as the price moves?
It depends on the pair and the time of the month. Sometimes the big movement has already happened and you are entering late just because you see it on the monthly.
I prefer to take out partial with small TP and let run a part. So I assure profit and I do not frustrate if the price turns around.
If the analysis comes from a monthly, what's the point of pointing at only 40 pips? It's like having a crossbow and shooting a can at 2 meters.
Operating on monthly sounds nice until you eat 3 weeks back and it's your turn to see your bill bleed.
Of course, that's just my question. Because if the monthly chart looks good, the potential is there, but if I put a very long TP, I stay looking and may never arrive. That's why I thought of partial entries and intermediate TP. I think the most reasonable thing would be to go managing by zones, right? Mark progressive targets and move the stop little by little. Although I don't know if that already complicates too much what should be a quieter swing operation.
People don't understand that big graphics need patience. You can't operate on a monthly scaler mentality.
I use weekly graphics for the general direction and then look for tickets on H4. So I point to the long movement, but I enter with tighter stops.
What if the monthly seems bullish but the weekly is bassist, because you're already in trouble there... contradictory everything.
The important thing is that your entry is logical in several time frames. If the monthly says one thing and the diary another, you better expect confirmation.
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