The Power Of Three
When I look for breakout
candidates on the daily chart, but want to minimize my initial risk…I
concentrate on the ‘power’ of multiple time frames. I’ve
personally found the 30-minute chart to be a good ‘in between’
chart for my risk tolerance levels and
style of trade.
10:00:59
Intraday
Setup Alert
Power Integrations (POWI)
has formed an extended Cup & Handle pattern on the 30-minute chart. The
stock is approximately 1% from 52-week highs of 37.55, with pattern triggers
above handle resistance set above 37.45. POWI is up .25 at 37.19.
The 5-minute chart for me is still the ‘bread and
butter’ for most intraday triggers.
But,
when I see the 30-minute and daily setting up together, that’s a
powerful enough
picture for good trade entry with edge in my
humble opinion. So the next time you don’t quite see it, maybe try stepping out
from the trees for a bit, to see what’s really developing.
Chris Tyler