an inexperienced trader looks at the chart and wonders exactly where to get in. an experienced trader looks at the chart and sees several potential places to get in long and short, depending on what price action does next. same as playing chess... new players agonize over which piece to move where, while veteran players see potential moves all over the board, depending on how everything unfolds in time
And when the trolls get so fluffed about this exactitude they demand, they don't realize that they are announcing to the world just how inexperienced they are. Which is why I don't argue with them any more. (Plus I'm older )
On any timeframe price: 1. Trends then continues or fails trend 2. Ranges then range continues or fails 3. Consolidates then direction These scenarios are based upon fair value then play out based on changes to value which dicate supply and demand. I am not so concerned with finding entries as there is a time and place for each scenario. More trying to understand what 'forces' control the supply and demand/create imbalance. Is it A.) all the trading timeframes interacting/buy and sell programs, etc or B.) strictly price levels and liquidity (viewable on time bars)? A. would be more dictated by the path price is currently on at each unique moment. B. would be dictated by relative price across the board - correlation, asset allocation, etc Hope this is more clear. BD
Thought about some more, its really a question of liquidity takers vs suppliers in the above context. So in an uptrend buyers are takers, sellers are providers, etc.. Providers must utilize relative value thus dictate s/d balance. Conclusion, time bars have no bearing on market dynamics, only price structure and time within HL swings based on the liquidity being provided. BD
====================== Good question; a PHD named Dr Adrian Rogers said that ''' d'' can stand for dud;LOL .PHD, rocket science is not required,Bob. 60 minutes can be useful; 58 minutes can help. For stocks ,silver + gold,GLD, look @ all data; 5800 yearsof price data can be helpful, when possible . So no; 60 minutes is not reguired.....