|
Shorter vs. Longer term Trading
The main difference between short vs longer term is the strength of support and resistance. No real market movers ever look at 5 minute charts, so it doesn't have large order support. The real moves happen when Daily, weekly and monthly support is broken. The chance that it hold is much better as well, so if you have gd daily support the odds that the market goes though it on the first try is rare, so buy a head of it. There is nothing wrong with scalping that is why I put on 2 units and scalp 1 and let the other 1 go for a bit (med-term). A chart signal is a chart signal no matter the time frame, the bigger the time frame the bigger the players looking at it.
|