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$onty “aligning stocks on multiple time frames”
Wednesday, August 29, 2012 15:10
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Yesterday we traded $onty for a quick trade.. wanted to highlight how aligning stocks on multiple time frames works.
If you view the daily chart of ONTY you see that it has a very nice setup and appears to have a breakout spot somewhere near 5. But where exactly should you get in? Thats when you turn your attention to multiple timeframes.
This is a 4 day chart of onty. By viewing this chart.. its obvious that the 4.95 level is the key break and bust out level. The stock tapped that level three times before finally busting thru. So, you find the setup using the daily chart and you pinpoint your entry using intraday time frames.
2012-08-29 15:06:57
Source: http://bullsonwallstreet.com/onty-aligning-stocks-multiple-time-frames/
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