Mastering Market Trends: Technical Analysis Using Multiple Timeframes by Brian Shannon
This is where traders make money. The 10, 20, and 50 SMAs align upward. The trend is your friend. Look for long opportunities on pullbacks.
To build a reliable trading system, execute your analysis from the top down.
Mastering the Market: Technical Analysis Using Multiple Timeframes
One of Shannon’s most profitable lessons: When the higher timeframe is sideways (e.g., weekly chart in a tight range) and the lower timeframe is also sideways, . Most losing trades come from forcing action in a directionless market.