: Fundamental data can provide a backdrop, but price action is the final arbiter of truth. "Price action pays".
The Power of Perspective: Mastering Technical Analysis Using Multiple Timeframes technical analysis using multiple timeframes brian shannon
Open the weekly or monthly chart. Use Shannon’s ribbon of SMAs (10, 20, 50) to identify the primary trend stage. : Fundamental data can provide a backdrop, but
This is the execution chart (e.g., 15-minute or 5-minute). Once the higher and intermediate timeframes are aligned, the trader uses the lower timeframe to find precise entries with minimal risk. Shannon warns against using the lower timeframe to predict direction; rather, it is a tool for timing. technical analysis using multiple timeframes brian shannon
: Always trade in the direction of the higher timeframe trend to stay on the side of larger institutional money.