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Hey guys,
I guess there is a misinterpretation of the day al showed on the 5 minute chart on the slide below. Look:
I guess the day presented on 5 minute chart is the big bear trend bar. You can relate the tails with the minor reversals like I highlighed.
The day circulated in 60 min chart should have opened below and closed above, the exact opposite of what is happening on the 5 min chart.
Am I correct?
Thanks in advance.
Hi Fabio,
That big bear trend bar is just one 60 minute bar, not the full day.
The 60-minute chart shows several days of action and the corresponding bars for the 5-minute chart (one day's worth) are the 7 60-minute bars down from high. If you count out 12 bars on the 5-minute chart for each of the 7 60-minute bars you should be able to see how they match up fine.
Your 5-minute red circle covers about the first 30 minutes from open, after which market fell to give the 60-minute tail on top. Your 5-minute blue circle covers the last 90 minutes or so.
Does that help?
