ES Journal Archive (2006 - 2008)

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Sounds like a conflict of interest. How do you determine which chart you should be using each day ? So far this has been one of this 6 point chop days that I talked about before.
 
Quote from volente_00:

Sounds like a conflict of interest. How do you determine which chart you should be using each day ? So far this has been one of this 6 point chop days that I talked about before.
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It's entirely up to the individual as to what chart they want to use and how active they want to be. The signals are just as valid on the 3 or 5 as they are on the 15 60 or 240. How active do you want to be and how much do you want per trade? These are questions that each trader must ask and answer for themselves. There are long opportunities today-They reside on the very short term charts at the moment.
 
My bias for today is down but I have taken some of the long trades off of a 5 min chart. I used to use a 1 min chart but it sometimes conflicted with the 5, it was better for picking entries and exits but it produced more quantity than quality so I dropped it.
 
One should never discount the bullishness of the weekly chart when looking intraday. Typically, it may ok to consider bullish intraday signals as stronger signals as compared to bearish intraday signs. Just something to keep at the back of one's mind.
 
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