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Strategies & Market Trends : Technical Analysis - Beginners
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To: wiley murray who wrote (8852)10/31/1998 11:09:00 PM
From: Richard Estes  Read Replies (2) of 12039
 
No there is nothing magic about time frames for a chart. Those might do well. I think someone should be aware of all phases of a stock. I will look at daily for a year, weekly for 4 years and monthly for 7 years. That is to apply indicators to them. Looking at the last 30 days or less only makes sense when you know what the indicators will do or how they are computed. Often internet charts compute indicators differently.

Why so long? Because support and resistance set years back can affect next week's action. You face a high risk when you take on short term trades of 14 days or so, then make it more difficult facing the other trader who writes the option. You should have the tools to play that game.
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