I think that general principle is okay...for me I define each time frame, so have a longest 'trend' t/f, a middle 'intermediate' t/f and a shortest 'trigger' t/f...so will look at what the opa (overall price action conditions) are re peak/valley analysis on the intermediate and trend t/f's..and wether these are contra or with each other. If with, and there is a classic opa trend present (ie HH. HL -or- LL, LH etc. ) I will then look at how many t/f's above the longest t/f that opa trend exists upon. If the opa conditions do not suggest a trend then I will look at what the general conditions are on those t/f', - ie 100sma above/below it's 200sma suggesting general buillishness/bearishness on the respective t/f's...
If the longest t/f is trending I will look for pullbacks to potential rbs/sbr/fibs/trend lines on that longest t/f, with entry timed by means of repeating hidden divergence reads and confirming PA on the middle t/f..and this entry possibly even fine tuned on the shortest t/f by means of PA and regular divergence.
If the middle intermediate t/f (and possibly the longest t/f) are trending (together,) the pullbacks may be less severe, so a similar hidden divergence set-up on the shortest t/f at the middle t/f potential rbs/sbr etc for a re-entry into the intermediate t/f (+) trend may present itself.
If the middle t/f is trending but this is contra the longest t/f..then I am careful that this may just be an extended pullback in the longer t/f trend, this particularly the case if the longest t/f trend is with those on the t/f (s) above it.
Of course where the opa trends match the general conditions on the t/f's above those being used for entry is so much the better.
Ie In the example you give I don't think there is much point looking to to go short on the 1min even if the daily/weekly/monthly are all bearish without the 5min and 30min looking bearish as well.
Hope this makes sense (I know it doesn't read well, - Lol !)
G/L
Hi,
When doing your technicals do you usually look at the bigger picture of monthly, weekly and daily timeframes if all them indicate long or short trend do you decide on that on the shorter timeframe to go long or short as the 3 other levels then trigger on the 1min to 4 hour timeframes?
Thanks.
