Here you go. I have no charts yet.

Al Kamego

I mean, say the setup is on a 240-min, then I'd look at the 15-min timeframe for a setup there. This assumes a certain proportion on that timeframe. I say this because one could look at a tiny setup on a certain timeframe, and a huge setup that covers the entire screen on a lower timeframe, and call both of those the 'traded timeframe'. I use a method for determining the 'traded timeframe' that is a variation of what I described in the book. I'm just clarifying the concept that if all things are equal (standardized is a better term) then the more confused I get the lower the timeframe I start looking on.

Contrary to widely held popular belief, I've found that the more significant the area, the higher the noise level tends to be. Yes, sometimes there are V-spike reversals, but many times not. Many times the market likes to thrash about wildly, shaking everyone out and confusing the greatest number of people, and then taking off. So, I think the tools work less and less well around the turns, not better and better. So, when that happens I trade it 'timeframe appropriately', in other words I get in and take the shaking and heat, or I drop down and look to play in the 'chop' where it looks like trending action.

A good example is today. This came right off the area I posted last night, and I posted it right after it hit. Now, if one played that as a higher timeframe setup, look at the 'chop' since then. No big deal to hold through it, you just plan for it and hang on. But, I said I was fairly uncertain about the market's intentions, so I might drop down. Now look at the 1-min since then. Does that look like tradeable action to you? To me it sure does. But it does as individual legs for the very-short-term trader. The approach is different. Hope this clears things up. I could have just said 'yes, longer' or 'yes, shorter', like anyone else would have...

Originally posted by rat89

Jim, when you say drop time frames, do you mean look longer or shorter?

I'm watching this area here, 18.50-19.00. If that gives way, the area of 21 half is important here, but there are some key things at 22.75. So, I'd normally say watch 21.50-22.75, but to get to the latter, some key lines have to be violated.

Aren't those two areas so close that the noise level makes it hard to use them? Yes, once down this low, looking this closely, you reach the limits of the signal to noise ratio. But, nonetheless, I post them with that caveat in mind.

thanks jim....if it was anyone else they wouldn't have your perspective, so you can use whatever terms you like!

they give it the look and feel of a break out but spy also looks like it to go to 150 by the close today....crazy

Okay, that first area cleared now, let's see if it's trend until close, or if it will have some trouble with the next area. Remember, late sells are as rare as hens teeth nowadays...

Now we see. Big volume spikes, key area, this is it. I think 'it' will be big up. But, you never know.

Now, if with this big volume spike and key area this only can pull back a few ticks and then burst up watch out above. But, it may just be reaching for the higher part of this area, as I discussed before. But, those late day sell offs, and those hens teeth, I just don't see it...

See that 60-min obvious overhead TL? How will it react to that?

Yeah, Marcin and rat are crankin' out the charts. Good stuff, guys.