Been thinking about your posts. I like the energy of your charts, even though the details and the way of labeling individual legs take some getting used to. Right now, between family obligations and the day job, things are a little hectic... will get to it later today or over the weekend.
Short term the broad markets are overstretched, and more likely than not it would be an error to jump in. Of course, they may go in into one of their manic periods, and just keep pushing up, but the odds for that are not that high. I think they will - at least - consolidate.
One question for now - how did you come up with the view that "each wiggle must be counted"? I am just trying to understand it. I also like going into small time frames, but the reality is that one cannot do larger time frames in, let's say, 5 min charts. At some point such wiggles eventually DO become noise. So, if one must have a cutoff point, why not use the daily (while focusing in, where feasible and/or needed, into smaller details)? A daily for longer time frames is still sensitive enough, I think - most of the time. |
