Robert Prechter: market trends unfold in repetitive patterns across various timeframes. He emphasizes the importance of analyzing larger timeframes to identify the primary trend and using smaller timeframes for entry and exit points.
Alexander Elder: emphasizes the concept of multiple timeframe analysis. He suggests considering the trend alignment across different timeframes, from longer-term charts to shorter-term ones, to gain a comprehensive view of the market and improve trading decisions.
Linda Raschke: emphasizes the significance of understanding the context of price action in multiple timeframes. She believes that analyzing higher timeframes provides valuable insight into the overall market structure, which can guide trading decisions on lower timeframes.
Ed Seykota: acknowledges the influence of larger trends on smaller timeframes. He advocates aligning trades with the prevailing trend in higher timeframes, as he believes that strong trends tend to overpower shorter-term fluctuations.
Charles Dow: introduced the Dow Theory, which suggests that trends occur in three different timeframes: primary (long-term), secondary (intermediate-term), and minor (short-term). According to Dow Theory, the primary trend, which is the dominant trend in the larger timeframe, carries the most weight in determining market direction.
What do you make of this market? Or put differently, what do you make of the influnce of this chart on the predermination of your trading bias in this market?
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