To apply multiple time frame analysis in your trading, follow these steps:
He looked back at his screen. He had been zooming in so far on the "noise"—the one-minute and five-minute flickers—that he had missed the forest for the trees. He pulled up the daily chart. There it was: a massive, multi-month downtrend. He was trying to catch a falling knife while standing on a trapdoor.
: Price is paramount, but volume reveals the emotional state of buyers and sellers; healthy advances should see volume increase on "up" days and decrease on pullbacks.
