It is important to use multiple time frames in order to find the best support/resistance levels. Often what looks to be a bullish level on a smaller time frame may not necessarily be a bullish pattern on the larger time frame. The same theory holds true for moving averages on different time frames.For example, the SPY below was putting in a bullish pattern on the 5 and 10 minute charts. However, IntheMoneyStocks.com traders identified the 200 moving average on the 60 minute chart as resistance. The SPY seemed to halt right at the 60 minute 200 moving average and begin a small pullback from that level. Intra-day this was a very nice pullback. Use the moving averages on multiple time frames to capitalize intra day.
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