Whether your a day-to-day trader, or an investor looking at an extended hold, one critical aspect in trading is to match your chart with your trading horizon. A day trader may use a 1 minute to a 15 minute chart, whereas someone looking at stocks or options may prefer a daily-weekly chart.
Which chart you use is a matter of personal preference, but a few points of interest remains the same: the trend and the nature of the trend.
With the BOTs, we look at the nature of the trend with a special focus on 50CB trends. Those trends are classified as a 45 degree trend run or a "run away" trend which moves "away" from the 45 and the EMA.
ES WEEKLY
On any chart, these TL's are used to time entries/exits, where entries are staged around the 50CB (does it hold? trend continues. Does it fail? look for a trend reversal.) and the exits are staged around TL break outs.
Using this philosophy, what would you do with an option/stock if you see the 50CB and identify the different trend lines?
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