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What
occurs in one time frame occurs in others. I’m not a daytrader,
but if I did it, I would use this phenomenon on the intra-day
charts. I would use the same exact patterns that I use on the daily
charts. Further, I would
take a “Russian Doll” approach--combining the time frames. For
instance, notice on 06/29/09, the S&P Spyders (SPY) were set up
as a Gatekeeper pattern.
On the following day, 06/30/09, the 1 minute chart also sets up as a Gatekeeper (a). It then sells off nicely (b).
Of course it doesn’t always work this well, but as you can see the same patterns that work on the daily charts also work on the intra-day charts. Further, by trading patterns within patterns with a Russian Doll approach, you stack the odds in your favor.
See the Fractal Nature of Patterns for more on combining timeframes. Questions? Comments? Shoot me an email at dave@davelandry.com
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