Some fools recommend don't see lower time frames. But because every time-frame is built on the same set of data, the same characteristics were seen across the timeframe. If weekly is tight - in form of WIB or so, it will be a tight area on daily, hourly as well. (1/n)
I often say breakout is not about crossing a line but is a characteristic change - when the price acquires the characteristics of a trend again after being range bound.
Traded #ManaliPetro last year, see the characteristic change happening on a 15-Min chart -
Traded #ManaliPetro last year, see the characteristic change happening on a 15-Min chart -
What lines it crosses afterwards is irrelevant. Often just an effect, not a cause. And this breakout will be visible across all timeframes - 5 min, 1 min, 1 sec and even on tick charts. Because ticks make seconds, seconds make mins, mins make hours and so on and so forth.
And here is where multiple timeframe analysis becomes bullshit to me. It is for pattern matchers - because character is everywhere, pattern is visible only on selected timeframes.
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