: Shannon advocates for starting with a long-term view to identify the primary trend before narrowing down to shorter timeframes for execution. Weekly Chart
Brian Shannon’s acclaimed book, Technical Analysis Using Multiple Timeframes : Shannon advocates for starting with a long-term
As I began to apply Shannon's approach to my own trading, I was amazed at how much more confident and accurate I became. I started by identifying the dominant trend on the longest timeframe (e.g. the weekly chart), and then worked my way down to shorter timeframes (e.g. daily, 1-hour, 30-minute) to look for confirmation or divergences. the weekly chart), and then worked my way
The methodology utilizes specific averages (like the 5-day EMA for short-term and 50/200-day DMAs for long-term) to confirm trend strength and act as dynamic support or resistance. Side-way movement following an advance
Side-way movement following an advance, indicating balance between buyers and sellers.