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Let's say you've got a 15 min chart and you have weakness appear. You are likely to have that weakness hanging around for at least 15min. It was Tom Williams himself that spoke about it. It doesn't mean it will only be 15 min, it just means you are likely to have it there for 15 min. This is also why he says "when you see a bar like this (weak up bar) on the 3 min go short right away". Of course this could also be the high of the day and continue down the rest of the day but you're likely to get at least 3 min or whatever it is.
In Tom's bootcamp in the Forex section is where I'm referencing from. |
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Interesting, I will have to watch that.
A possible trade setup off this information could be:
1) Enter on 1 minute (for prime risk/reward setup).
2) Flip to a 3 minute to see if setup appears there as well and if so, we can expect a 3 minute move.
3) Continue process up the ladder - 5, 7. etc.
Purely an idea at this point.