The Daily Influence On Intraday Charts
Without the daily chart
influence, there is no trade in my humble opinion.
Others might disagree of course, since they are
trading on the intraday charts–but for this cautious bull, the big picture
typically makes perfect ‘cents’ to confirm triggers that occur on the smaller
time frames.
10:57:41
Intraday Setup Alert
IBM (IBM)
has put in an extended 5-minute chart bear flag off of key price and MA supports
within a daily chart consolidation–up .15 at 90.16. The daily consolidation
looks to be part of a return move to the stock’s neckline break, and is
considered bearish in nature. Traders might look for shorts on IBM below pivot
and pattern zone supports of 89.84 – 89.91.
A little bit of red out of the bearish combined
analysis adds up to a little bit of green on the session–thank you Big Blue.
Chris Tyler