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I've never found that a 20 tick chart bears much resemblance to a 5 minute, or 5
minute to 30 minute.The 5 minute bears more resemblance to the 30 minute, than
does the 20 tick to the 5 minute. At 30 minutes the charts begin to bear
considerable resemblance to the daily, weekly, and monthly. The shorter time
frames seem to carry considerably more noise, and it's been my experience that I
can only interpret pivots, channels, and Fibonacci ratios with reference to the
30 minute chart.
Earl
-----Original Message-----
From: Neil Harrington <njh@xxxxxxxxx>
To: 'Steven Buss' <sbuss@xxxxxxxxxxx>; 'Timothy Morge' <tmorge@xxxxxxxxxxxxxxx>
Cc: 'Neal T. Weintraub' <thevindicator@xxxxxxxxxxx>; omega-list@xxxxxxxxxx
<omega-list@xxxxxxxxxx>
Date: Monday, August 03, 1998 2:03 PM
Subject: RE: Trading as a way to financial success (a reply)
>markets have a fractal nature to them. One thing that means to me is that if
>you cover the price and time scales and look at a chart, you would be hard
>pressed to determine whether the chart was an 8 tick, 3 min, 30 min, Daily,
>or Weekly chart. Indicators would look the same, Elliott waves would be
>there, Gann information would be there, etc.
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