And the conclusion that you have come to is...................................................................?
Hi Kriesau,
Sorry, I didn't mean to be obscure. However your query has given me another chance.
I observed only that (especially where entries and exits are concerned) it is perhaps a good idea not to be constrained by a particular favourite time frame, when one has liberty to zoom in or out to better blend in with the amplitude and frequency of the current swell (like a surfer tailoring her technique to the rhythm, or chop, of the ocean).
For instance the seemingly chaotic price action following the FOMC looked positively orderly on switching to a 10 sec view and thus I could select low risk entries and exits that I simply would have not been able to see on, say, even a 30 sec or 1 min chart. (It was also easier to interpret the Tick patterns and divergences, of which I'm a big fan).
Conversely, perhaps during a slow, steady and relentless "trend day" lasting several hours, a 5 minute chart might be best at clearly displaying the market's (again, temporarily) dominant "pulse", while subduing the fluttering leaves of trivial detail that tempt one to fuss over a single tree when the whole wood is in play. Sheesh, sorry for the hackneyed analogies.
Any road, this led me to the conclusion that it is self-limiting to concentrate on extracting profits from only a single time frame, when the most attractive and labour-efficient R:R is apt to wander between them, if you like. So I run a few TFs alongside each other as usual, but now adjust their periodicity quite often, especially that of the one from which I'm taking trades. This organic, sympathetic approach seems to help (and supports my view that Xerxes wasted time whipping the sea when all he had to do was build a decent surfboard in the first place). Erm, yeess.
In regard to the movement of the Dow beyond the next few hours, no conclusion whatsoever, I'm afraid. I just can't do it. So far from my niche in fact that the beggar would have formed an imposing portcullis of stalactites by the time I was able to return to it.
I thought the chart I posted might be interesting to some, if only for the Evangeline Lilly-esque price action - unconventionally pretty if you look closely. Still, I realise my style of trading does not sit well in a thread geared towards FA, news and longer term swing analysis, so I'll forgo posting microtrivia in future. :cheesy:
With due acknowledgement and gratitude to the person who helped me with some of the above thoughts.
