keep an eye on the flag... excerpt (tangent) on time frames.
might not be an explosive one, but I don't know many buyers that can resist a bull flag. There is a lot of resistance to get through, but flags sometimes have a way of spearing.
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A small tangent on trading multiple time frames:
When I first started trading it seemed like changing from one time frame to another was comparable to looking at entirely different markets. By the time I got down from the daily to the 15 minute it felt like I was looking at a totally new chart and that nothing important carried over from the Daily timeframe.
I'm slowly curing myself of this, but I can't put my finger on any cause or revelation I came to. That leads me to thinking it's something you have to practice and practice until it becomes a reality.
It was like my mind physically couldn't hold all of the pieces together from the higher time frames. Moving to the lower ones, it would just let go of the previous information in favor of what was in front of me, being the lower time frames. I am getting better at holding all of the information together, but still it's not a cake walk. I would liken trying to do so to learning the piano. The ability to use your left hand and your right hand separately is something that requires conscious effort to decouple, isn't easy at first, but gets more natural with time spent practicing. The left hand typically does a slower tempo, and the right hand plays the faster rhythm. Same as trading. High time frames march to a slower beat, but they lay the tempo. The lower time frames make more notes, but they still occur within the tempo established by the left hand.
Then you have times when high time frame support or resistance fails, instead of throwing them out the window, and deciding that only the lower time frames matter, you could instead consider it a change in key signature.
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A small tangent on trading multiple time frames:
When I first started trading it seemed like changing from one time frame to another was comparable to looking at entirely different markets. By the time I got down from the daily to the 15 minute it felt like I was looking at a totally new chart and that nothing important carried over from the Daily timeframe.
I'm slowly curing myself of this, but I can't put my finger on any cause or revelation I came to. That leads me to thinking it's something you have to practice and practice until it becomes a reality.
It was like my mind physically couldn't hold all of the pieces together from the higher time frames. Moving to the lower ones, it would just let go of the previous information in favor of what was in front of me, being the lower time frames. I am getting better at holding all of the information together, but still it's not a cake walk. I would liken trying to do so to learning the piano. The ability to use your left hand and your right hand separately is something that requires conscious effort to decouple, isn't easy at first, but gets more natural with time spent practicing. The left hand typically does a slower tempo, and the right hand plays the faster rhythm. Same as trading. High time frames march to a slower beat, but they lay the tempo. The lower time frames make more notes, but they still occur within the tempo established by the left hand.
Then you have times when high time frame support or resistance fails, instead of throwing them out the window, and deciding that only the lower time frames matter, you could instead consider it a change in key signature.