Hi MJ,
FWIW, the main thing I use the 1 min chart for is determining where the stock is relative to the 200, 100, and 50 minute moving averages.
Among other criteria, I like to see a potential long position trading above the 200 min, and a potential short trading below (both confirmed).
Occasionally I day trade something, and if all 3 moving averages are horizontal after 12 noon and the stock is moving sideways, I will wait for a break after 2pm, enter, and usually close the position an hour or so later.
For other purposes, I prefer a 5 min chart, especially if the stock does not trade heavy volume. If the stock trades heavy volume, I might flip back and forth between the 1 min and the 5 min.
Just my personal preferences, I am sure there are many variations...
T |
