(This is Part 9 of a series. Go back to Part 8.)
Notice how in this S&P daily chart that the STX is being repeatedly violated. When we see this it tells us that, in all likelihood, we are using the STX in the wrong timeframe.
Nor is it true that in such a case we necessarily go to a lower timeframe. We might, particularly if we feel inclined to play the up-and-down waves in that slow bull move. Or we might go to a higher timeframe—preferably sooner rather than later—to find the “harmony” or “beauty” that we are looking for.
So now let’s look at the same move in the S&P, but this time on a weekly chart:
(This is the end of Part 9. Go to Part 10.)
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