Long Term Charts Not Intended for Trading Purposes

Long term charts are not meant for trading purposes. A distinc­tion has to be made between market analysis for forecasting pur­poses and the timing of market commitments. Long term charts are useful in the analytical process to help determine the major trend and price objectives. They are not suitable, however, for the timing of entry and exit points and should not be used for that purpose. For that more sensitive task, daily and intraday charts should be utilized.