Old School or New School?
Back when we used to plot our charts by hand, at the kitchen table, our intraday charts used to look like this:
if we were plotting hourly closes then we would draw a line from 30 minutes ago to the hourly close:
the goal was simply to manage the trades that were placed from the perspective of the daily chart.
Why am I bringing this up? because I see a lot of people glued to their charts, trying to decipher every little wiggle and stall.
You don't need to do all that. . .your charts don't need to move. . .
every long/short is from a closing price.
If you want to record daily highs and lows then that's fine, but for small charts you don't really need price extremes.
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