When going over prior charts to find major and minor support/resistance points and marking them in preparation for the current day's setups, what is a good rule of thumb to use as to how far back in time and what timeframe chart to use? I've heard 60 mins is good, but 1 day back? 5 days? what do you fellows (and ladies,if any) use?
First download the PDF page 1.. You will see that the startegy uses 15/1hr/4hr and dailly charts. A support or esitance or trendline of a higher time frame normally holds greater interest.. But all time frames can and do effect the price action. But if price hasn't been somewhere in say a year. You would have to dig up those old charts and see how it reacted then. Hope this helps some . Not any straight forward answer. Just plot the near price areas and as they break look for the next ones. But always have them marked on all your different charts . Tht way as price breaks a lower time frame .You can glance at your next higher chart for the most likelly area to watch..
If you just watch EO and Infinty's chart posts you will get it quick enough..
By the Way Welcome... Ken Lee
Good Trading To All ; Ken Lee