Technical Analysis Using Multiple Timeframes
Technical Analysis Using Multiple Timeframes is a comprehensive guide to using technical analysis to identify trading opportunities. Brian Shannon, a professional trader, aims to educate beginning and intermediate traders on the tools and techniques that have made him "one of the best indie traders in the business". He explains how to use multiple timeframes to identify trends and how to enter them at the highest probability and lowest risk times. Technical Analysis Using Multiple Timeframes is a valuable resource for traders of all levels. Whether you are a beginner or a seasoned pro, this book will help you improve your trading skills and make more informed trading decisions.
ABOUT THE BOOK
Technical Analysis Using Multiple Timeframes teaches you how to enter established trends at low risk, high-profit levels, and recognize and profit from the cyclical flow of capital through all markets.
It contains tips on how to recognize and control costly emotional decisions and how to anticipate rather than react to price movement.
It also discusses the estimation of profit potential in a trade; correct stop placement for preservation of capital; short squeeze dynamics; and how to properly analyze and use volume and moving averages.
KEY CONCEPTS
Multiple Timeframe Analysis.
The central theme of the book is how to combine signals from different timeframes to improve trade accuracy.
Trend Identification.
It emphasizes how important it is to identify the prevailing trend on larger time frames before attempting to enter a trade on a smaller timeframe.
Support and Resistance.
Shannon discusses how to identify key support and resistance levels that can be seen on various timeframes.
Price Action and Patterns.
Shannon focuses on interpreting price action and patterns, such as breakouts, reversals, and consolidations, using multiple timeframes to increase the probability of successful trades.
Practical Trading Strategies.
The book offers concrete examples of how traders can develop and apply strategies using multiple timeframes, with a focus on execution, discipline, and risk management.
ABOUT THE AUTHOR
Brian Shannon is an internationally recognized technical analysis expert who is focused on short-to-intermediate trading time frames.
He is known to have a weekly chart, a daily chart, a 30-minute timeframe, a 15-minute timeframe and a five-minute timeframe so he can see five time-frames at once.
He focuses on trading, providing daily focused market analysis, and educating swing traders.