Yeah you know, wanna keep it light into the weekend. Otherwise it’s a great shorting opp with a lot of meat on the bone. Thanks for sharing the chart.

I can’t recall if I covered the 15-min chart of SPY recently & you might be referring to the 60-min chart. Either way, I will often set lines at different support & resistance levels on different time frames as the shorter frames have more candles that often show S & R level that might not be apparent or even apply to the daily time frame.

Yes, a big gap close to being backfilled on EBAY & the bottom of the gap “should” act as support but on the flip side, EBAY triggered a sell signal on a breakdown below that well-defined uptrend line yesterday with confirmation of the sell signal on another impulsive red candle so far today. The stock could bounce off the bottom of the gap & if so, may provide another objective shorting opp at higher levels but it could also slice right thru the gap, with my next targets around 44 & then 41.50. Here’s my daily chart.

Probably.

Although I don’t have a good read as to whether it holds or not, I do agree that KL is at decent support & provides an objective long entry. Of course, whether it rallies off this support or breaks down below it is likely to be determined by where gold heads from here. Best of luck & thanks for sharing.

The response from @becky below is correct: The shorter-term time frames have more candles over a certain period of time. As such, there are support & resistance levels that often appear on the very short-term intraday charts that are not apparent on the daily or weekly charts, nor are those usually significant when swing or trend trading on the daily or weekly charts. When day trading or actively swing trading (holding just a few hrs to few days), I will often use the 60-min, 30-min, 15, 5, & even 1-minute charts.

On Randy’s charts? I think he has just been using different charts for different time-frames and has marked support and resistance a little differently on each of them. Support and resistance are somewhat subjective.

Ah, DCA = Dollar Cost Average Yeah, that’s what I do. It’s especially easy when I’m keeping positions so small in this volatility

Whipsawed!!