Intraday, daily, weekly or monthly?

[doctorj]

I was reading a thread on another forum recently that was arguing whether or not a stock was in a down trend. In looking into it a bit closer, I couldn't decide. The daily and the monthly presented equally compelling stories for an uptrend on the monthly and a down trend on the daily.

So, this lead me to the question. If you're a discretionary trader of shares, what do you look at? I typically look at the daily, but this has opened my eyes. I look forward to your thoughts.

 

[tech/a]

Doc.

In any good trend there will eventually be 3 visable trends.

(1) Primary----the trend that governs all and the longest trend.
(2) Intermediate---the one which breaks away from the primary trend in either direction--can be seen on a weekly chart but often not seen on a monthly as it maybe a bar or 2
(3) Immediate Trend----the one happening now in either direction and often not seen in a Weekly chart and never seen in a Monthly chart.

Longterm traders trade (1)
Medium term trade (1 & 2)
Short term trade (3)

There are more 3''s than 2's and more 2's and 3's than 1's

Trends in either direction develope from 3 to 1.
Confusion can appear when stage 3 and or 2 hasnt yet developed into a 1
at which time a stock may not be in a primary trend---if so then it maybe developing without a clear cut arguement as to a GOVERNING TREND.

Without a Primary trend an arguement for a trend bull or bear is equally compelling.


Best rule of thumb I find---If you have to look hard to identify it (Trend,triangle,flag pennent or any other technical pattern) then its not there.