Today was one of the better trading days. The day started with a continuation of yesterday afternoon’s down move. The lows were reached just before the US open where a rise in volume with little progress down followed by light downside volume indicated the downtrend was over (1) and a first long trade. Accumulation then became apparent along the 1765-6 level, which led to a trend. Dips back to the demand line set up trade entries.
A larger pullback ended in light downside volume (2). This set off a strong rally and the first pullback was a buy, as was the subsequent dip to the demand line.
Another larger pullback ended in a Spring (3). This drew in what looks like climactic volume, followed by another push up on lighter volume, indicating that the uptrend is over for the day (4).
Trading tends like this becomes straightforward when you know what market conditions to look for. These are detailed in Trading the Trend, a four-hour video tutorial on the sweet spot of trading: trend trading. You can learn more at this link: Trade the Trend
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