Replies to post #137953 on Simple's Green Room

[pennies2007]

Same deal, Jav. Always keep an eye on the large time frames first to keep the bigger picture in mind...at least on the daily chart.

But the setups occur all the time on lower time frames. I'll post another example here in just a sec...

[Heavyweight]

Jav they happen all the time on all time frames. I think that just depends on how often you want to trade. I have to lean toward what pennies suggest on larger time frames since they determine the trend. As a scalper, I'm in where ever they appear. The drawback though like what happened to me earlier is trying to trade on a smaller one when a larger one is in progress. I got trapped...

http://www.sidewaysmarkets.com/2014/04/day-trading-spike-and-ledge-pattern.html