To apply technical analysis using multiple timeframes, you need to understand the different timeframes and their characteristics:
The fundamental thesis of Shannon’s approach is that price action does not exist in a vacuum. A stock might look bullish on a 5-minute chart but be hitting a major resistance level on a daily chart. To apply technical analysis using multiple timeframes, you
Never trade against the higher timeframe trend without a strong reason (e.g., counter-trend bounce play). counter-trend bounce play).