Technical Analysis Using Multiple Time Frame — By Brian Shannon [better]

He draws horizontal lines at significant weekly swing highs and lows. These are "unforgettable levels."

Keep it simple.

Shannon places enormous weight on where a time frame closes. A spike below support on the daily chart that closes back above support is a "spring" (bullish). A spike above resistance on the hourly chart that closes below resistance is a "upthrust" (bearish). You cannot see this unless you analyze the close across time frames. He draws horizontal lines at significant weekly swing

He calls this "trading the reaction to the news, not the news itself." not the news itself."