Part 33 Technical Analysis – How and why use different time frames

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Technical Analysis Using Multiple Timeframes

By Brian Shannon

A Complete Guide to Understanding Market Structure and the Psychology of Price Movement. How to enter established trends at low risk, high profit levels Recognize and profit from the cyclical flow of capital through all markets Estimating profit potential in a trade Correct stop placement for preservation of capital and maximization of winners Tips on how to recognize and control costly emotional decisions Why fundamental analysis matters Brokerage firm dirty tricks to profit from your account with hidden fees Learn to anticipate rather than react to price movement Specific strategies for entering, managing and exiting long and short trades Short squeeze dynamics How to properly analyze and use volume and moving averages When the Level 2 screen is helpful And Much More!

Technical Analysis Using Multiple Timeframes

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I started my trading education with this book and it so much motivating and the first 5 chapters contain a good ideas and interesting approach to market . I’m not saying it a great book but i think its a great start i always recommend it to newbies .

i give it 5 stars, mostly cuz it s the first book that introduced me the concept of 4 stages..

i m glad i picked this up as my next trading book! my trading journey continues.

From the basics of market structure to the details of finding and trading trending stocks.

A famous book by a well-respected trader, a foundational pillar of trend trading, and a rare case of a good practice/theory ratio. You wont find any trading astrology hereno clandestine signals that will let you buy all the bottoms and sell all the tops, no patterns of star alignment that will always put you on the right side of any given trade, no predictive candles of hanging-from-ichimoku-cloud men. From the basics of market structure to the details of finding and trading trending stocks.

A famous book by a well-respected trader, a foundational pillar of trend trading, and a rare case of a good practice/theory ratio. You won’t find any “trading astrology” here—no clandestine signals that will let you buy all the bottoms and sell all the tops, no patterns of star alignment that will always put you on the right side of any given trade, no predictive candles of hanging-from-ichimoku-cloud men. Just a system of following the bigger-picture trend that—if applied with good discipline—will provide you with good risk/reward opportunities on any given timeframe.
Pure statistical edge.

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Brian describes himself as more of a swing trader, but he gives specific recommendations for short-term day traders and longer-term position traders/investors—which indicators to use in each case, timeframe-correlation guides, etc. Again, the beauty of the system is in its “fractality,” its applicability with little adjustments to different timeframes.

In the last chapter he summarizes it all in a full description of his trading day (down to the details of when he goes to the bathroom��), shows how to apply it all together step by step, and gives directions for further development.

In short, another must-read (not many of them out there), whether you’re a beginner speculator searching for where to start your trading journey or an experienced fundamental investor who wants to position trades better using some no-nonsense technical analysis. . more

Period settings on different time frames?

Just wondering if someone can help me with how timeframes and indicators work across different charts.

Say for example I had an indicator that triggered a sell when RSI crossed 70 from top to bottom. If the RSI period was set to 5 on a 5 minute chart, this (and correct me if I am way off) means it is looking at the last 5 bars, ie 25 minutes. Therefore if I had the same indicator on a 1 minute chart and set this RSI period to 25, being 25 bars ie 25 minutes, would this indicator trigger at the same time?

What I am trying to achieve is a confirmed earlier entry. My indicator alerts at the start of the next bar after the conditions have all been “confirmed”, however often this next bar is too late. So I was wondering if I could use the same indicator on a 1 minute chart with modified settings, I could get in a few minutes earlier and have more success?

Possibly I am missing the entire concept of technical analysis but thought I should ask the question anyway.

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