The daily chart is your bread and butter timeframe. It is meaningful because many traders act end of day or use the daily closing price as a signal generator for the next day. Thats why you often see a continuation or carry over of end-of-day action into the next trading session. While I also employ the weekly, monthly and 15min charts, I don’t think my trading would suffer much if I had to rely only on the daily. In my opinion one should actually focus almost all of the time on it while only checking the weekly every once in a while. I like to put the (messy but useful; PLL anyone?) volume-by-price indicator on my weeklies so that my dailies remain clean and easy on the eyes. I also check the weekly to judge the quality of bases. Oftentimes a stock appears choppy on the daily, but when you check the weekly a lot of the daily noise is hidden. I sometimes dismiss non-ideal daily price & volume action when it’s hidden in a very constructive weekly chart. Reason is that big money rather focus on the long term. They accumulate based on the weekly/monthly and fundamentals.

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Disclaimer: This article is my opinion which stems from my own experience gathered trading real money in the stock market. It represents my style and it fits my personality and risk allowance. More power to you if you are a net profitable trader despite violating everything that’s written above!

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