5 or 10 minute candles for intraday trends?

Discussion in 'Technical Analysis' started by Risepoint1879, Mar 14, 2019.

  1. I've always used 5, but the 10 minute is looking more revealing now for seeing the trend. What are you guys using?
    Last edited: Mar 14, 2019
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  2. Nobert


    One should see it even in one min candles, if zoomed out far enough, tho i doubt that intraday noise , can reveal the true trend.

    Last edited: Mar 14, 2019
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  3. slugar


    Depends on your objective! If day trading and closing your position before the close then all time frames will have trends! Not all are tradable but “noise” on a five minute chart can be a small trend on the one minute
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  4. Hello Risepoint1879,

    I use the 3 minute chart.
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  5. The shit like was today you can use whatever and fuck yourself up.
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  6. Overnight


    This. lol
  7. Visaria


    How about the 4.75 minute chart? What's so special about 5 min or 10 min bars?
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  8. Handle123


    Really comes to how one back tested it, otherwise becomes more like Elvis picture done in velvet that Aunt Maude left in her will to you.
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  9. NQurious


    Today was the ES just being its normal self. We have gotten spoiled by 30+ point range days (at one point soon after the new year a trailing 14 day ATR was up above 80 points lol. We have forgotten that to make a living at this, you have to be able to trade the ES when its Globex ATR is between 19 and 22 points.

    Days like this are nice: Very technical, reasonable stops so trade full size. Pullbacks were allowed to trade HWB, bull flags traded like bull flags, bear flags traded like bear flags.

    Very technical, and very well-behaved market today, imo. But I admit I had some difficulty readjusting my sense of pace and extent back to normal. And who knows whether this return to normal will stick around until the next "crisis" or if tomorrow we are dropping 30 and rallying 60?

    Oh, and I prefer a single tick chart alongside a 5 minute chart. As my trading has matured, my use of the tick chart is primarily during the RTH opening minutes, if then. Otherwise, I find the 5 minute to be perfectly paced for me.

    Like @Handle123 said, what really matters is what you back tested. If you set yourself up to trade with-trend pullbacks on a one minute chart, a 5 minute chart will likely leave you clueless unless you get real good at watching that close tab tick up and down and you can recognize your patterns by remembering where that ticker has been. Better would be to stick with the one minute chart that brought you to the dance.

    Al Brooks ;) ... (I say that because I think I remember reading an old thread recently where you had done his course though I May be remembering incorrectly).
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  10. Everyday and every hour comes with different behaviours. From my understanding, Al Brooks looks mostly at 5 min charts but also looks at higher time frames for first and last hour of RTH because the market often makes a move based on higher timeframes during those times, makes sense to me.

    Nothing is really special about 5min charts except it fits perfectly to opening and closing market hours. As the posters above mentioned, it's whatever your brain got calibrated to or what you have back tested for your setups that matters.
    #10     Mar 15, 2019
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