Dow tenet "A trend is assumed to be in effect until it gives a definite signal of reversal". Though there are many trend reversal signals like candlestick pattern, trendlines, support/resistances and indicators, we can use peaks and troughs to confirm it in a better way.
Uptrend - Higher high(peak), higher low(trough)
Downtrend - Lower low(trough), lower high(peak)
Uptrend - Price action forms rising peak and rising trough
Downtrend - Price action forms decling peak and declining trough
In my post "Arvind facing strong resistance", price action moved upwards eventhough trendline
was broken and RSI showed less momentum. I checked where my analysis went wrong and found
it didnt break the previous higher low.
Uptrend - Higher high(peak), higher low(trough)
Downtrend - Lower low(trough), lower high(peak)
Uptrend - Price action forms rising peak and rising trough
Downtrend - Price action forms decling peak and declining trough
In my post "Arvind facing strong resistance", price action moved upwards eventhough trendline
was broken and RSI showed less momentum. I checked where my analysis went wrong and found
it didnt break the previous higher low.
Trade attivo
1/23/2017 short @363 with stoploss 366Nota
Target 1 reached.Trade chiuso: obiettivo raggiunto
Closed on target 1.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.