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On an intraday or intraweek(Globex) timeframe do charts & indicators work effectively ?
Considering all charts try to extrapolate past price/volume action into the future when we have been taught that every moment in the market is unique. In so far as what has happened in the past may not repeat.
Partcularly on shorter timeframes my experience has been that charts and indicators cannot be relied upon to make a decision. Please share your valuable thoughts.
Thanks
Can you help answer these questions from other members on NexusFi?
I am not familiar with Intraweek (globex)...is not intraweek a daily chart for 5 or 7 days of trading or is it something like 5 to 7 days of intraday charts sandwiched together?
That aside, I think a lot depends on which indicators you are talking about. MACD can certainly be useful Intraday, though I like trending the MACD and not paying attention to the signal line. It also depends on the parameters used. For example I use a 30 time unit look-back for some indicators such as RSI which gives a smoother curve without much loss in timing.
For me your statement is too general to comment properly...for example you have not even defined the type of trading you are doing ... is it FOREX or stocks?
