[badcharts]

Hello Isa,

Definatley a good idea to apply a trading framework to other time frames than the current one.
1- Use a higher timeframe to validate the higher prevailing trend.
2- Use a smaller timeframe to obtain "health check" of the breakout candle before entry. Ex. Was that pull back on the breakout candle (wick) on contracting volume?
3- Smaller timeframe also offer, like you mention, precision on entry. Like looking in a mirrior with a mirror.. if you can align just right and have a monthly breakout, with a weekly breakout, with a daily breakout simultaneously on those 3 time frames.. then WOW! I guess that could only happen at the end of the month ending on a friday!  badcharts

Need more coffee.... mmm or maybe had too much already!?!?

Regards,

Patrick

Will check fiddle around with your ideas and see what type of results I come up with.

Another idea might simply be to create a chartlist of all the early Stage 2 breakouts already in progress. i.e making their first or second significant advance higher following the initial Stage 2A breakout point on heavy volume i.e during wave 1 or wave 3 if you like Elliott wave theory. And then just simply look through the chartlist at the end of each week for the first multi week pullback.

At that point if you drop down the timeframes to the 2 hour chart, you can practice Stage Analysis on an intraday level to perfectly time the entry point, as the pullback on the 2 hour chart will present as a Stage 4 decline if you setup the 2 hour chart with the same settings as the weekly chart.

So you simply wait for the stocks Stage 1 base to form on the 2 hour chart, and monitor the volume of the decline compared to the 2 hour Stage 2 advance that just preceeded it. Then as the pullback slows you should see a Stage 1 base forming on the 2 hour chart, which after the initial bounce will give you a level to watch for a Stage 2A breakout as it would on the weekly, you can even use the 2 hour ichimoku cloud to see resistance. Then as with a weekly Stage 2A breakout, all the same rules apply. The breakout above that Stage 1 level should be on at least 2x the volume on the 2 hour chart, and it should be relatively outperforming the S&P 500, or it's a pass.

This multi timeframe method on pullbacks is not part of Stans method, but something I've used to good effect many times, and something that I'm continuing to refine as my own improvement to the Stage Analysis method. As well as a multi timeframe approach on the breakouts, where I use the monthly, weekly, daily and 2 hours charts.

Isa,

You're forcing me to take a nice warm coffe and read this correctly!

I also look at the higher trend to confimr the "wind" direction and look at smaller timeframes to confirm (for non-marabuzo candles) if the pullback was (wick) done on contracting volume (healthy). You are right, you become more more procficient in avoiding whipsaws when you levergae different timeframes.

I somethimes feel like I'm in the movei "Inception" when manipulating different timeframes. kinda cool actually when I think of it.

Always great getting your feeback!

Regards,

Patrick

Will check fiddle around with your ideas and see what type of results I come up with.

Another idea might simply be to create a chartlist of all the early Stage 2 breakouts already in progress. i.e making their first or second significant advance higher following the initial Stage 2A breakout point on heavy volume i.e during wave 1 or wave 3 if you like Elliott wave theory. And then just simply look through the chartlist at the end of each week for the first multi week pullback.

At that point if you drop down the timeframes to the 2 hour chart, you can practice Stage Analysis on an intraday level to perfectly time the entry point, as the pullback on the 2 hour chart will present as a Stage 4 decline if you setup the 2 hour chart with the same settings as the weekly chart.

So you simply wait for the stocks Stage 1 base to form on the 2 hour chart, and monitor the volume of the decline compared to the 2 hour Stage 2 advance that just preceeded it. Then as the pullback slows you should see a Stage 1 base forming on the 2 hour chart, which after the initial bounce will give you a level to watch for a Stage 2A breakout as it would on the weekly, you can even use the 2 hour ichimoku cloud to see resistance. Then as with a weekly Stage 2A breakout, all the same rules apply. The breakout above that Stage 1 level should be on at least 2x the volume on the 2 hour chart, and it should be relatively outperforming the S&P 500, or it's a pass.

This multi timeframe method on pullbacks is not part of Stans method, but something I've used to good effect many times, and something that I'm continuing to refine as my own improvement to the Stage Analysis method. As well as a multi timeframe approach on the breakouts, where I use the monthly, weekly, daily and 2 hours charts.