>> there is no trend on the daily chart - its hovering in a congestion zone<<
I see a very definite and tradable trend,IMO.Its just not what "YOU" look for or consider a trend.In fact, by you saying you don't see it, only strengthens my point that I have some very tradable indicators here.
I have a very classically derived definition of trend. You might be choosing an inaccurate terminology, or you might be refering to an *intraday* time frame of some sort. Or, you might not agree with classical definitions.
So lets see where you are on that subject first. The definition and understanding of what is a trend, and what is not, is rather key. Lets use RKH as an example.
First off, if you don't agree with my definition of what a trend is, then you will be disagreeing with 100 years or more of market concensus.
a trend is a series of higher highs and higher lows in an up trend, and the reverse in a down trend.
Yes, or no, agree or not?
Second - what is the trend in the time frame you are trading in? If its an end of day system, then is there a trend there? On RKH's chart, there is no trend on the daily. It is in a range, which by definition is trend-less.
A picture is worth 1000 words: trendvue.com
Third - what is the picture in the next time frame up? If its trending on the weekly (it is - still - an up trend), then if its not trending on the daily, only one of two things can be happening:
1. It is pausing, preparing to continue.
2. It is preparing to reverse.
In either case, you don't know whether its going to pause or reverse until it does.
RKH weekly chart is clearly in an up trend, so far: trendvue.com
PS:
I agree with you on personal responsibility. |
