Weekly charts, daily charts...

BigChazza

Newbie
I hear a lot of talk of weekly/daily/hourly charts etc. Question: is it talking about the bar/candle interval? Or the scope of the chart? E.g. is a daily chart:
  1. one that just shows you one trading day (and the interval might be anything - e.g. hour, 5min, min etc)?
  2. one that is an the interval of "1 day" (and shows an unspecified scope)?
 

1nvest

Well-known member
I hear a lot of talk of weekly/daily/hourly charts etc. Question: is it talking about the bar/candle interval? Or the scope of the chart? E.g. is a daily chart:
  1. one that just shows you one trading day (and the interval might be anything - e.g. hour, 5min, min etc)?
  2. one that is an the interval of "1 day" (and shows an unspecified scope)?
bar interval
The open for that day, week, etc
the close for that day, week, etc
 

MasterOfCoin

Experienced member
I hear a lot of talk of weekly/daily/hourly charts etc. Question: is it talking about the bar/candle interval? Or the scope of the chart? E.g. is a daily chart:
  1. one that just shows you one trading day (and the interval might be anything - e.g. hour, 5min, min etc)?
  2. one that is an the interval of "1 day" (and shows an unspecified scope)?
Well, you need both.

It's no good looking at 5 minute chart action without being aware of the longer term trends at greater intervals.

Failing to do so is a good way to lose all your money very quickly indeed.

:)
 
The weekly gives you one set of points to use over the week while the daily chart provides a handful of points for the same timeframe. That handful of points have more influence than the single set.
 
 
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