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Thanks, Db. That's a good use of the 1-minute chart. I tend to stay way from it because I begin see way too many "set-ups" that then evaporate. But I see your point about this. Thanks |
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Really valuable point thanks Eiger, fully agree. If I can elaborate a little as some reading this thread, especially less experienced traders, may not fully appreciate your point and be left with an incorrect understanding. If I am wrong in my interpretation of your point, apologies.
A bar on a 1-minute chart will have, on average, a much smaller range than a bar on a 5-minute chart, the 1-minute bar will also have, on average, much less volume than the volume on a 5-minute bar. Sorry to state the glaringly obvious, but...
So, a set-up on a 1-minute bar chart that may, on appearance, look like the same set-up on a 5-minute chart, will have a much smaller expected price move from that set-up. Moves occur on different scales, again, sorry for stating the glaringly obvious. A trader looking for say a 5 point move off a set-up on a 5-minute bar may well be disappointed with perhaps only a 5 tic move from what appears to be the same looking set-up on a 1-minute bar chart. This is the sense in which I understand your important point that the set-up evaporates…very significant, thanks.