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Steve:
It's not a dumb question. You end up with 10 bars or candles that are equal
in length. Those are also representative of trading while the cash market
was open. You have one 15 minute bar or candle that is the residual time
left while futures traders and pit traders/brokers flatten or square up or
adjust their positions.
No time period is perfect. I find the bars that represent the cash
effectively useful. I also chart 13 minute bars and 78 minute bars on futures.
If you look at it from the reverse side...normal time frames do not
consider the cash period and its importance.
You can always chart 15 minute periods and 30 minute periods, like everyone
else, if that suits your trading style.
Best,
Tim Morge
At 05:26 PM 7/18/2001 -0400, you wrote:
>This may be a dumb question, but the futures trade 405 minutes,
>using 39 minutes would leave an uneven amount of candles
>Steve
>
>>----- Original Message -----
>>From: <mailto:tmorge@xxxxxxxxxxxxxxx>Timothy Morge
>>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
>>Sent: Wednesday, July 18, 2001 8:37 AM
>>Subject: Re: [RT] Intra-day market activity
>>
>>Good morning, folks!
>>
>>Great discussion yesterday. Sorry I missed it.
>>
>>39 min charts are extremely useful because the cash S&P and ND markets have
>>10 equal 39 minute bars each day. And 39 is a product of two fib numbers: 3
>>and 13.
>>
>>Best,
>>
>>Tim Morge
>>
>>
>>At 07:39 PM 7/17/2001 -0400, you wrote:
>> >Tim Morge uses it.
>> >39 min is 3 * 13 nothing significant really probably because he uses a
>> >fast chart of 3 min.
>> >I do. so it is kinds like a fib number...
>> >
>> >don
>> >>----- Original Message -----
>> >>From: <mailto:gts@xxxxxx>Steve
>> >>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
>> >>Sent: Tuesday, July 17, 2001 5:03 PM
>> >>Subject: Re: [RT] Intra-day market activity
>> >>
>> >>What is the significance of a 39min chart?
>> >>Why not use a 34min since it is a fibonacci number?
>> >>Just wondering
>> >>Thanks
>> >>Steve
>> >>>----- Original Message -----
>> >>>From: <mailto:eadamy@xxxxxxxxxx>Earl Adamy
>> >>>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
>> >>>Sent: Tuesday, July 17, 2001 2:15 PM
>> >>>Subject: Re: [RT] Intra-day market activity
>> >>>
>> >>>Look at the confluence on 39 minute chart of the 62% retracement of the
>> >>>decline and the 100% ABC expansion of the first rally off the low all
>> coming
>> >>>together at 1216+-. This was a good place to take profits and look for
>> >>>possible entry on retracement.
>> >>>
>> >>>Earl
>> >>>
>> >>>----- Original Message -----
>> >>>From: "Randall Kurzon" <<mailto:rkurzon@xxxxxxx>rkurzon@xxxxxxx>
>> >>>To: <realtraders@xxxxxxxxxxxxxxx>
>> >>>Sent: Tuesday, July 17, 2001 11:59 AM
>> >>>Subject: Re: [RT] Intra-day market activity
>> >>>
>> >>>
>> >>> > Well we sure seem to be hitting overhead resistance. One of my
>> >>> proprietary
>> >>> > oscillators says this move up will take a little break now- we'll
>> see. I
>> >>> > show the next major resistance level at about 1220 and then at around
>> >>>1225,
>> >>> > Friday's high. Anyone see a particular reason we should be
>> stalling out
>> >>>here
>> >>> > (1214-15)?
>> >>> >
>> >>> > Randall
>> >>> >
>> >>> >
>> >>> > To unsubscribe from this group, send an email to:
>> >>> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
>> >>> >
>> >>> >
>> >>> >
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>> >>>
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>> >>>
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