This chart reveals the immediate setup, such as a flag pattern, a cup-and-handle, or a breakout level. For swing traders, this is usually the 60-minute or 30-minute chart.
Price breaks above resistance, creating higher highs and higher lows.
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20-day, 50-day, and 200-day Simple Moving Averages (SMA). This chart reveals the immediate setup, such as
To put these concepts into practice, a top-down checklist is followed before considering a position:
This methodology emphasizes price action and volume-weighted tools over lagging oscillators.
Look for an intermediate pattern to form during this pullback, such as a descending wedge or a short-term resistance line. This public link is valid for 7 days
: Identifies the dominant market trend and overall structure. Swing Traders : Use weekly or daily charts. Action : Only trade in the direction of this major trend. 2. The Intermediate Timeframe (The Setup)
The primary objective of this approach is to ensure that a trade taken on a short-term basis is in alignment with the long-term trend. This helps avoid "trading against the wind."
To apply these concepts, a trader might follow this workflow: Can’t copy the link right now
The longer-term chart dictates the overall trend and market structure.
Technical Analysis Using Multiple Timeframes by Brian Shannon