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Identification of Market Trend
Finding a trending market it is easy but people are so caught up with indicator and all that news and stuff they clearly ignore what is in the chart.
To check a market is trending or in side
Up trend-
well look how swings are made if market is making higher high and lower high that means it is in uptrend.
Identification Of Uptrend
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On the above chart we can see market is going up now market is in uptrend,
the green trend line show impulsive move and the red line show corrective move
and it is simple like that when impulsive move end it make a higher high and after
that corrective move when this move end you can see a higher low and the wave
goes on like that for an uptrend.
Identification of Downtrend Market
Same definition if price is making lower low and lower high that means the trend is down , it just simple not a rocket science so don’t get confuse next time with you indicator to decide that where market is going here is the chart see for yourself .
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On the above chart we see a down trend price movement here we can
see price is making a lower low and lower high, now in that the red line is a impulsive move and the green line is corrective move.Some phenomena here as well when a impulsive move end it make a lower low and when corrective move end it make higher low and price keep going with
that, and making a clear down trend I don’t think you need any indicator to tell you where price Is going or what trend is it.
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