Wednesday, July 16, 2008

Technical Analysis Using Multiple Timeframes

Technical Analysis Using Multiple Timeframes - a trading book by Brian Shannon

Brian's work has been published or written about in Technical Analysis of Stocks & Commodities, Barron's, Active Trader, Stock Futures and Options Magazine, and hundreds of online sites.

I bought this book recently and read it from cover to cover twice. The presentation makes it easy to understand the concept of support and resistance and offers some input on why markets move the way they do. Brian also eliminates chart reading bias by removing the symbols from the charts.
I've been reading and watching blog videos since day 1 of Brian's blog and have tried to dissect many of the videos to determine how he finds the stocks, trades them, and manages the trade. I even wrote down the phrases he keeps repeating in the videos. I was not sure if the book would have any additional valuable information for me. I have since read it twice and there is indeed a whole lot of of valuable content that is in addition to the great videos on his blog.

The trend is your friend, but which one? Opposing trends can be found on various time frames in the same stock, at the same time creating confusion and worse, unnecessary losses. Understanding market structure and trend alignment allows you to put emotions aside and focus on the right stocks at the right time. Techniques covered in this book are appropriate for anyone (from day traders to investors) who is looking to improve accuracy in their buying and selling.

To order this book, just click on the image below.

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