There is too much noise for me to utilize intra-day charts. I've let go of too many leaders in the past b/c I was trying to infer a directionally larger move off of tiny time frames.

The spikes could be 1 big buyer or seller trimming a position, multiple players trading to VWAP (not shown on your chart), ETF's (and portfolios that emulate ETF's) coming in and out as they manage their positions,  or a host of other reasons.  the picture is too small for me to draw a conclusion.

I'm glad it works for you though and as long it does I hope you see expanded margins :-)

Actually Lon, it was your JDSU trade on 3/7/2011 that renewed my interest in the hourly charts.  I limit the analysis to the 3-5 heaviest volume bars in the past few days and look for averageing up.  That keeps the noise manageable.

Ha! that's great Abe. That was an "interesting" trade and admittedly I got out fast by watching what I now ignore.

I've just been tussled about too much trying to master the intraday. I have completely moved away from them and now view daily's as a small time frame. As stated, I left a lot of money on the table trying to read tea leaves via the smaller time frames. Then again, I suppose thats the life cycle of a trader - focus, improve, adjust and move on and sometimes go back to the drawing board.

I'm very glad it works for you - I'm just conveying my own, very expensive & sometimes very painful (to the ego) lessons. I do find your 'largest bars' concept interesting...

So skip the hourly and make sure your weekly 3-5 heaviest bars in the past few months are averaging up.  See BWLD week of 10/21 -12/2 -  12/23.  Those highest volume weeks come in at a higher price each time.

That way when your staring at the decision point as BWLD comes up through the 50 day in the week of 1/27  you've got weekly averaging up in the previous few months and you can enter a great winner with more confidence.

Interesting. I'll start to look for the patterns. Thanks

Abe and Lon,  

Great discussion.  I have been debating the best way to use intra-days b/c, like Lon, it has cost me in the past due to my overreaction to large intraday moves or my losing my own sense of the stovk's true trend.  Abe, I will try and apply your shared wisdom.  Thnx.  Brad