Unlike fixed horizontal lines, Shannon utilizes moving averages to represent dynamic support and resistance. His work emphasizes using a "set" of averages (e.g., 10-day, 20-day, and 50-day) across different timeframes to confirm trend strength. How to Apply Multiple Timeframes (The Workflow)
Look for a smaller pattern inside the big trend. Look for a pullback or a small consolidation period where the price rests. 3. Execute on the 5-Minute Chart
Shannon is a pioneer in using , which calculates the average price paid for a stock starting from a specific significant event, such as an earnings report or a major swing low. The Multi-Timeframe Strategy Amazon.com: Technical Analysis Using Multiple Timeframes
At its core, multiple timeframe analysis involves examining the same stock across different chart durations—such as monthly, weekly, daily, and intraday—to understand the full market context. Shannon argues that focusing on only one timeframe is like trying to navigate a city by looking only at a street sign rather than the entire map. Look for a pullback or a small consolidation
By waiting for alignment across timeframes, you reduce the probability of premature entries.
This is typically viewed on an hourly or 65-minute chart. It reveals the current cyclical swing within the larger macro trend. This is where you look for chart patterns like flags, breakouts, or pullbacks.
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Churning price action where buyers lose control.
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: He emphasizes that volume confirms the "emotional condition" of buyers and sellers, while moving averages act as dynamic support and resistance. Implementation Guide
In the fast-paced world of trading, understanding market direction is only half the battle. The other half is timing. seminal work, "Technical Analysis Using Multiple Timeframes" , is widely considered a cornerstone text for traders seeking to master both direction and timing by looking at the "big picture."