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I am wondering if anyone consideres the longer time frame always- in situation ( or the Market regime) as ALi calls it. for example we are still in bear market , but now on a daily rally to the top of a TR with a pull back now . Does anyone consider the more longer time frame always in situation when you look at the 5 minute chart for daily trading , if so how you factor all that in?
thanks
Hi Siju,
Take a look at Bonus Video #3 @ 4:10 where Al describes a case of bear trend on daily so can expect daily bars to close on or near the low, this means can expect bear selloffs into EOD on 5M chart.
Also video 48K @ 13:05 on how to utilize weekly chart S/R levels with 5M chart on Fridays.
Hope that helps!
CH
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Thank you
Wondering what would be the earliest point where everyone thinks, the always in direction has started? break out with minimal pull back?
A single big bar by itself can set the always in. Or two cc medium trend bars or maybe a series of smaller cc bars. It's subjective in terms of how big the breakout bars are relative to the previous bars leading up to it and the context. After the breakout creates a new always-in, a trader can then decide whether to BTC/STC or wait for a pullback to trade the always in depending on context. For example, if a breakout is to the upside but into the middle of a larger trading range (TRD) then probably better to trade pullbacks only.
thank you
