Discussion in 'Trading' started by dafong, Oct 25, 2008.
what min bars do you guys like to use? 1 min, 3 min, 5 min, 15 min, or 30 min?
5, 10 and 15 are my favorites.
I only use one at a time depending on conditions.
i use TICK chart ONLY
1min and tick for scalpin
like the indians
take a look at volume charts
i use one minute charts....but, it makes sense to use a longer time frame...will experiment with 5 minute.
1, 5, and 15. 5, and 15 on the corresponding index.
3 price patterns on all 3 time frames = trifecta and high probablility.
For those rare occasions where I stick around and watch price action 5 minute chart is by far the best. For the life of me I can't understand why anyone would use 1 minute chart since it is filled with insane volatility.
creation of patterns (price action) with volume on the 1 minute can be very powerful if you are interpreting correctly. I agree the 5 is stronger and allows for better position size calculations.
When you use tick charts, what is the most critical element of change you watch for? A percentage in price; quantity of ticks within varying time frames?
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