Thanks for the valuable response. I’m regular visitor to your web site and its very useful tips. I saw “multiple time frames” post earlier.

Have a nice weekend!!!

Cheers
Kumar

Usually I’ll trade off of the 15-minute time frame, but the best answer really is.. use the time frame which gives the clearest and cleanest picture of the pattern… and if you can combine a daily chart setup with an intraday chart setup, it becomes more reliable. (I’ve got a good example of this I’ll do a post on this weekend)

Time frames I watch for every equity I trade include…

monthly
weekly
daily
60-minute
15-minute
5-minute
2 minute

Now I really don’t check the monthly or weekly charts for every trade, because my time frame in trades is usually much shorter. I include them for an overall uptrend, or downtrend view.

The key is finding one of the patterns, and combining it with another charts pattern, or combining it with uptrends and downtrends, or combining it with stocks making new highs, or combining it with stocks breaking down… etc. The more pieces you use to validate.. the better.

As for moving averages. I use simple 20, 50 and 200. So if I was looking at a daily chart, I’d call it the 200 dma. If I was looking at a 5-minute chart, I’d say 200 ma. I do make this distinction in my posts.

I’ve also got the 8 ma on my 5-minute chart, but don’t use it much, except if a stock is extended and I’m picking spots to sell.

The 200 ma is an excellent indicator for choosing targets on intraday charts. Search for “200 ma” and you’ll find some posts where I write about this.

Here’s a post on multiple time frames that should be helpful too.

Hope that helps,

Mike

Thanks for nice for the trading patterns and its very useful. I have three questions

- could you pls advice for day trading which timeframe best suites in your opinion
- do we need to adjust moving average based on timeframe or always use same MA irrespective of timeframe
- Which MA average you suggest

Cheers
Kumar