The daily drives the other time frames ....not viceversa
Almost every bear i know, shorts when the DAILY is up, based on hourlies. That is knowing the fact that the daily drives the lower timeframes. In that sense, it's a lame argument.
One has to trade the timeframe of their choice and concentrate on signals in that timeframe alone. Otherwise too much clutter and indecision in pulling the trigger.
Heck i can short the market when the daily is up based on my hourly and make money and vice-versa. And i have been showing that for years.
GL
Edited by NAV, 18 July 2007 - 02:17 PM.