As a technical trader/Chartist one of my "strength" is using MULTIPLE time frames to help locate the absolute HIGHEST quality trade setups. What i try and do is find the strongest setups that align in good and 'reliable" technical setups on MULTIPLE time frames for example a stock that is setting up well on the WEEKLY, DAILY and 60 minute charts make for the best setups and if executed properly, these can be nice trades. I try and make it a PROCESS where on EVERY DAY i am looking for the best setups that align on WEEKLY, DAILY, 60 minute and even 30, 15 minute time frame charts.
It all starts with the BIG PICTURE and ZOOMING down into LOWER time frames to help me "detect" patterns that are otherwise not easily recognizable in HIGHER TIME FRAMES.
Check out some RECENT example of setups i posted here on the blog, on twitter or some that i sent out to ART OF TRADING members .
Hope this helps and as always if you any questions, feel free to ask! : traderstewie@yahoo.com
Cheers!
First Example: TSO
The chart above is the original TSO Daily Chart (shared on twitter, posted on this blog and emailed to ART OF TRADING members) setup which was showing a CUP& HANDLE pattern: one of my personal favorite patterns and one of the most reliable ones i have found from my experience.
Here's the original TSO WEEKLY CHART (sent to ART OF TRADING members) which showed a very nice pattern similar to the one we saw on DAILY charts except on WEEKLY CHARTS is looked more "clean" and could see it more clearly to the trained trader's eyes.
Above chart shows the 60 minute TSO chart shows a very nice looking INVERSE CUP & HANDLE. This pattern wasn't very visible on the HIGHER TIME FRAMES but zooming down into the 60 or even 30 minutes charts, you would have able to spot some very bullish and reliable patterns to trade or at least alert/prepare you for a good move that was imminent.
Above is the updated 60 minute TSO chart AFTER the breakout.
Above is the updated TSO DAILY chart AFTER the breakout
Above is the updated TSO WEEKLY chart AFTER the breakout.
Here's another example: TIVO
Above is the original Daily TIVO chart setup (shared on twitter, posted on this blog and emailed to ART OF TRADING members). Chart showing a decent looking ASCENDING TRIANGLE which tend to breakout to upside.
Above is the WEEKLY CHART of TIVO which shows a beautiful looking long basing pattern which broke out over 12.30 area and held it on retest. That was very important for this setup as it now creates yet another base from which it can now launch off over that 13.00 area. Strong bases make for strong(reliable) breakouts.
Above is the original 60 minute TIVO chart which was showing a solid basing pattern. Breakout was imminent. Only a matter of time.
Above is the UPDATED TIVO weekly chart. breakout was SOLID and played out very nicely for those that played it.
Above is the updated TIVO daily chart. Notice how the MACD played a key role in spotting this setup and increasing the reliability of the play/
Updated 60 minute chart of TIVO after the breakout.
I am going to make a new VIDEO on this topic soon but i wanted to do this blog post first as an "appetizer" to open your appetite on this very important topic especially for Technical traders.
Hope it helps.
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