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The daily chart (high timeframe) still showed price above the 20-day SMA. The 4-hour chart was holding the 50-period SMA. Nothing had broken structurally. He held.
According to Brian Shannon, you cannot just slap three charts on your screen and call it a day. You must understand the relationship between the time frames. Here is the breakdown of his "Top" methodology. The daily chart (high timeframe) still showed price
By analyzing charts across multiple time frames, traders can: The daily chart (high timeframe) still showed price