Two Against One
Some traders use the 3-,
13-, and 60-minute chart for intraday trading. If all three time
frames are moving in the same direction, the stock is trading in a clear trend.
But so often, one shows an uptrend, and the other shows a downtrend. This
conflicting trend, needless to say, gives a headache to traders.
12:27:31
TradersWire)
Biogen Idec (BIIB)
is attempting to move above the 15-period SMA on the 60-minute chart. BIIB is
trading at 57.42, up 0.54.
Look at the charts below. On the 13-minute, BIIB is trading above the 15-period
SMA, and the SMA is starting to curl up. The 3-minute chart indicates a clear
uptrend. BIIB’s trend is improving. The chances are that BIIB will attempt to
take out the 15-period SMA on the 60-minute chart.
At 12:30, the stock successfully took out the 15-period SMA on the 60-minute
chart and gave us a buy opportunity.
Have a nice afternoon session!
If you have questions, feel free to mail them to me.