wrong with this, as everything in trading is relative.

After all a reversal on a

daily
chart might last several days. It is all relative to the time frame.
The third reason for using multiple charts is that this also gives us a
perspective on
changes in trend as they ripple through the market, this time in the opposite
direction. The analogy I use here is of the ripples in a pond. When you throw
a
pebble into the centre of a small pond, as the pebble hits the water, the ripples
move
out and away before they eventually reach the edge of the pond. This is what
happens with market price action.
Any potential change in trend will be signalled on our fast time frame chart.
This is
where you will see sudden changes in price and volume appear first. If this is
a true
change, then the effect will then appear on the primary chart, which in this
case is
the 15 minute chart, before the change ultimately ripples through to our 30
minute
chart, at which point this change is now being signalled on the dominant
chart.
This is how to trade, as we constantly scan from the slower to the faster and
back
again, checking and looking for clues and confirming signals between the
three time
frames, with VPA sitting at the centre of our analysis. Even if you ultimately
decide
that VPA is not for you, trading using multiple time frames is a powerful
approach
which will give you a three dimensional view of the market. You can have
more than
three, but for me three is sufficient, and I hope will work for you as well.
Finally to end this chapter, I would like to include a short section on the
candle
patterns I have found work, and work consistently. And you will not be
surprised to
learn, all these patterns work particularly well with price support and
resistance, as
well as price congestion.
By watching for these candle patterns whenever the market is in a
consolidation
phase and preparing for a move, coupled with VPA and multiple time frame
analysis, this will add a further dimension to your trading. And the patterns I
would
like to consider here are the falling triangle, the rising triangle, pennants and
finally
triple tops and bottoms.