Time frames are so important in trading. Much confusion could be avoided by sticking to the dominant time frame when trading. If you are swing trading on multiple days or weeks, the dominant time frame is the weekly chart - not the daily chart. The daily chart can be utilized to time entry and exits on partial adds/subtractions but the dominant time frame and trend are defined by the weekly chart.

In this video, that point is driven home with an example of the Euro via the FXE proxy. The current trend for the Euro is up on the dominant time frame. That means that, generally speaking, you should be trading it long - not short and you should be using the weekly time frame as your guide for both direction (trend) and overall stops for the position. In this video there is a discussion about why this is so important to your profitability.