Yes that helps immensely. thank you. I think I get it. The HOURLY and 15 minute are the fluctuations that happen within a day (microcosm). They may help us determine when to buy, sell, hold or wait on a given day depending on what the DAILY chart is showing..
I came across a stock yesterday that has some pretty blatant OVERSOLD indicators and seems to be beginning an uptrend on the DAILY...GOK is the symbol. It jumped %30 today.
Now if I'm reading this right I believe the 15 and hourly are reading OVERBOUGHT or close to it. Does this mean that the best price to enter say tomorrow is if/when the 15 and/or hourly become OVERSOLD that might be a good time to buy being the Daily (macro) seems to have positive momentum coming off a recent oversold bottom??
Interesting to me that most of the indicators were reading OVERSOLD for a while on the DAILY but the price didn't bottom and then rise until the MACD made a bullish divergence above that 0.00 point..
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