Our previous post talked about trend – this discussion takes up where that one left off.
When I prepare to trade, I try to do a routine that always starts with evaluating trend – on each of my three intra-day trading charts.
First I look at the primary intra-day trading chart trend:
A. If the trend is strong, I will watch for trades in the direction of the trend.
B. If the trend is weak or sideways, I watch for trades in either direction.
Moving to the secondary intra-day chart trend:
If “A” is true – and the secondary intra-day chart trend is in the same direction – I will only take a trade in that direction.
If “A” is true – and the secondary intra-day chart trend is in a different direction – I will either:
Watch for a trade entry in the trend direction of the primary chart – IF the trend in the secondary chart appears to be about to reverse and move in that direction.
Or, watch for a trade in the opposite direction of the primary intra-day chart trend IF the secondary chart trend appears to be strong.
If “B” is true – I am watching for a trade in either direction – and pay most attention to the secondary chart. Trend always changes more frequently in the shorter time frames.
Of course, watching trend is only the first of a series of steps that must be followed in order to construct a trade.
Our next post will discuss the final step in our trend analysis – what we look for just before we enter a trade.
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Author & Trader
Great system – couldn’t trade without it !!Frank YDavid, Panama
I trade the US Bond Markets exclusively – amazed at the accuracy of the SRV’s !!George SNew York, NY
the SRV’s are spot on !!Tom CUSA
….very impressed with the whole philosophy – both personal and trading, expressed in the book. I will read and revert !!Richard DUSA
“The SRV’s are amazingly accurate”.Tony Texas
Thanks for the method !! Very solid, very logical entry and exit and genius SRV’s !!Denis DRussia
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