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Price stays above rising moving averages (like the 5-day MA). Sideways movement after a significant advance. "Smart money" sells to latecomers, increasing volatility. Topping patterns typically form here. Stage 4: Markdown A sustained downtrend with lower highs and lower lows.

: The asset moves sideways in a well-defined trading range.

: Price trends down below declining moving averages. Psychology : Panic, denial, and capitulation.

Brian Shannon's is widely considered a foundational textbook for traders seeking to understand market structure through the lens of price action. Published in 2008, the book introduces a systematic approach to aligning different time intervals—from weekly charts down to 5-minute charts—to identify low-risk, high-probability entry points.

Brian Shannon actively shares updates, video commentary, and live applications of his multiple timeframe analysis directly through his educational platform.

Common setups

To apply multiple timeframe analysis, traders typically use a combination of short-term, medium-term, and long-term timeframes. The specific timeframes used may vary depending on the trader's strategy and goals. Here are some common timeframes used in multiple timeframe analysis:

Multiple timeframe analysis involves monitoring the same financial asset across different time intervals. Instead of relying on a single chart, traders use a top-down approach to build a complete market narrative.