I am a big fan of understanding all the perspectives that I can, knowing what others may be thinking/seeing when viewing a stock chart. Knowing the timeframe of other traders is equally important – knowing what they are seeing within their selected viewpoint of a chart.
I often get questions from my twitter feed that reminds me of this. Others see me post a comment on a particular stock and I can tell by their question that we are not trading the same timeframe. To illustrate how important the zooming in/out of a stock chart is, I bring you the Weekly chart for $BWA (Borg Warner):
The area in the box is the price action for 2012 year-to-date. Now I will show you the Yearly chart, how all the action in the box is summed up in ONE candle:
The candle for 2012 has potential to turn into a Shooting Star, but no matter what the pattern is forming here, it is clearly a Trend Reversal.
Those trading on the Weekly timeframe may view this as a Dip Buy opportunity soon. Those using the Yearly have likely been short for a while and will likely remain in that position.