Your analysis are good, but remember the no one can predict the future of the market, all trades are based on speculation and deception, but it required for us to adapt to the market as it moves.
First Target is done.
I agree with you on both of them, but the sweet part of trading is when one trade on H1, H4 and D1.
W1 and M1 are usually for determining the trend direction and forecast as it may take several weeks before it reach the desire target, I'm sure no trader want to wait fore such a long time before they start seeing profitable trades, time is money and it got to be used wisely.
I am sorry I believe that trading what people call today High time frames will get you away from chaos and make you a lot of profit, but trading small time frames without looking at the bigger picture will not make you money on the long run.
Trading small time frames is popular because brokers want you to do it so they can make more profits. Did you recognized that MQL5 Signal give a warning message when you stop trading for just one week!
USDCAD weekly chart channel.
Since February 2018 Dow Jones Industrial move inside a huge Coil pattern waiting for breakout.
Hi,here is DJI Monthly chart,
1. The light blue triangle show 2008 crisis beginning from October 2017 peak until March 2009 valley.2. DJI retraced in 2018 exactly from 2.618% Fibonacci extension of 2008 descending wave.3. February is a Hanging man.4. February & March is Bearish Harami candlestick pattern with a downside breakout. According to Bulkowski statistics, there is 64% probability that it will meet its target. 5. Monthly RSI14 stayed above 70% for 10 consecutive months. It touched 89% in January 2018 and this is extremely overbought.
I know that there is no clear downside breakout until now, but I think caution is important.