Positive's of longer time frame charts:
1) Big picture, not smaller noisy picture
2) Cypher pattern
3) Major Support and Resistance areas
4) Easy to see direction, you should be trading (bearish, bullish or sideways)
5) Easy to spot trends
From noted chart:
1) 2017 has went up/down $1.00 ($21-$20)
2) Price action is at a major resistance area
3) Bearish trading direction is showing on chart
4) Trading on shorter charts bearish
5) Consider doing put option trades
6) $17.00 is next lower support, should be hit this year
*If you are considering a bearish or selling shares of this stock and conservative trader, you could wait for closing candlestick below BB indicator 20ma.
1) Big picture, not smaller noisy picture
2) Cypher pattern
3) Major Support and Resistance areas
4) Easy to see direction, you should be trading (bearish, bullish or sideways)
5) Easy to spot trends
From noted chart:
1) 2017 has went up/down $1.00 ($21-$20)
2) Price action is at a major resistance area
3) Bearish trading direction is showing on chart
4) Trading on shorter charts bearish
5) Consider doing put option trades
6) $17.00 is next lower support, should be hit this year
*If you are considering a bearish or selling shares of this stock and conservative trader, you could wait for closing candlestick below BB indicator 20ma.