By Brian Shannon Technical Analysis Using Multiple =link= ✔
If you are stressed in a trade, you are likely trading a timeframe too small for your account size or risk tolerance.
Always trade in the direction of the higher timeframe trend. Use lower timeframes for entry, not for trend reversal. By Brian Shannon Technical Analysis Using Multiple
Price action is fractal. What happens on the weekly chart affects the daily; what happens on the daily affects the 4-hour; the 4-hour drives the 1-hour. Without a multi-timeframe approach, you are trading in a vacuum. If you are stressed in a trade, you
Shannon advocates :
Note the nearest major support (below) and resistance (above) on the weekly chart. By Brian Shannon Technical Analysis Using Multiple
Let’s apply the methodology time frames to a hypothetical trade on a stock like NVIDIA (NVDA).