Oct 27th, 2010
There was a very nice long signal today off the bigger support low. This is why it is so important to understand how to get the bigger levels. All the small time frames are trading inside the bigger time frame so if you are only using a 5 minute for your bigger direction chart it time to learn how to go bigger with your charts even if you are only scalping.
The pattern gives us where to enter the trade and the color change of our indicators give us the when. Without knowing both your odds are very low to consistently not only make money but understand the true direction.
The pattern is what develops the trend and if you wait to long as a day trader for the trend to be confirmed you are most likely too late. Step back and look at the bigger, medium and short term patterns for best results that you can repeat.
Happy Trading,
www.eMiniSchool.com
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