Everytime you examine an instrument, work your way down. Yearly Quarterly Monthly Weekly Daily 4 hours hourly 30 min below this level, enter at your own risk.
This is a very wise and true comment about using technical analysis or statistical analysis. Don't get sucked into believing that a large sampling size of higher frequency data will give you the same trend profile and study metrics results as a smaller sampling size of lower frequency data. It is not a substitute !
Many good comments Mine; Too many up simultaneously - leads to utter confusion Clear case where more is not always better when monitoring real time Like TF said; start big, drill down, also copy the key levels from one to the other - where they all line up = money eta; Also keep in mind the difference between Time Frame.., and Bar Interval - something I learned a few weeks ago RN
The OP seems to have disappeared, but those who have resurrected the thread may be interested in the following:
thanks for that . its a wonder I got 100 posts in 10 years , its just not worth it , one liners vs well thought out rules , trolls wreck any decent interaction .... (Trader.Fighter ) the name says it all , the only person a trader fights is himself so give yourself a good beating )) ... leave you all to it
I meant no harm, and most definitely not a troll, in fact posted a better post in the same thread than the one liner. Sorry about that.
To add to my one liner post. Typically, a larger TF trend of potential support or resistance is supposed to take over a smaller TF trend. Most of the time what will happen is, you obtain a reaction due to this clash, and then the outcome of the clash is typically the conclusion of the potential area working or not. Unfortunately, many times, the market needs further data to decide and it simply consolidates in the same area creating barbwire like action that is not healthy for intraday traders. At the same time, it is not improbable that fundamental news occur before the test of the big TF potential area and the small tf trend just storms through it, which is why I said, not always in my one liner post. Apologies to the above poster for my one liner lack of substance post, he was correct in noticing the weak counter-argument.
speak of the devil In the off chance someone is having a hard time getting their head wrapped TF vs. BI - here's how a redneck would splain it ; Price has.., and will continue to - travel across time⦠(aka the time frame under our scrutiny) Along its journey; it may stumbleâ¦, it may back trackâ¦, it may become confused and hang out for a bitâ¦. it may even dash off and away â only to return later We can use various bar intervals to help drill down and identify these areasâ¦, and exploit themâ¦, while keeping our risk to find out low Just another way to see that â which has been around since the advent of trading RN