Hello GD
I am not qualified to answer your query. Just adding my 2 cents . .
Your question reflects similar dilema I was facing, perhaps all of us newbies will have to face, till such time we have not finally setteled down with a choice of time frame for our trades.
In this method given out by SAINT for trend following, we are refering to 2 time frames. A higher TF for the broader picture and a smaller one for entries and exits.
In your case if you are trading on the Daily Time Frame using EoD charts, your exit will be on a break of Pivot Low on that time frame, weekly TF is for trend guidance, so you will be looking again for a Long entry if weekly is still in an uptrend.
I trade this method for Intraday. In my case was struggling with 1 minute / 5 minute choice with a similar thought process, finally seclected the 5 minutes with 30 mins for an anchor chart for trend guidance.
It makes perfect sense to me, or maybe I am also equally confused
Do keep posting regularly, maybe with your charts, it will helps us all to exchange views and get feedback from SAINT
Thanks
nb
I am not qualified to answer your query. Just adding my 2 cents . .
Your question reflects similar dilema I was facing, perhaps all of us newbies will have to face, till such time we have not finally setteled down with a choice of time frame for our trades.
In this method given out by SAINT for trend following, we are refering to 2 time frames. A higher TF for the broader picture and a smaller one for entries and exits.
In your case if you are trading on the Daily Time Frame using EoD charts, your exit will be on a break of Pivot Low on that time frame, weekly TF is for trend guidance, so you will be looking again for a Long entry if weekly is still in an uptrend.
I trade this method for Intraday. In my case was struggling with 1 minute / 5 minute choice with a similar thought process, finally seclected the 5 minutes with 30 mins for an anchor chart for trend guidance.
It makes perfect sense to me, or maybe I am also equally confused
Do keep posting regularly, maybe with your charts, it will helps us all to exchange views and get feedback from SAINT
Thanks
nb
Nah,you're not confused at all.......great clarity,in fact.
All the best!
Saint