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RE: The Market Can Stay Irrational Longer Than You Can Stay Solvent
There is something to be said for time frame analysis, which kind of goes along with what you are saying. In the end the larger time frame dominates. Thus, yes. Just getting in and looking a year later can make sense if you are buying the direction of the larger trend.
However, I believe you can improve the entry by working your way down the time frame scale. If the monthly chart is an uptrend and the weekly chart is an uptrend and so is the daily chart, but the hourly is not. Well, that is possibly an opportunity to buy a little lower so long as the weekly, monthly and daily trend are still intact.