Hello All, I am new to trading and had a question on determining the trend to trade with., I attached a picture and as you can see it looks like there was a trend up for a while and then looked to turn down. The OVERALL trend still looks up to me but when we place trades would we go with the longer looking up trend or more current down trend? Thanks in Advance -CP
It depends on your style and preferred time-frame. For myself, I wouldn't be entering a trade at all, at the moment, precisely because of the lack of confidence you've commented on above. In the short term, from here, if the price moves down to below that previous swing-low at around 0.009000 - also a very round number - then I'd perhaps be trying in principle to identify potential short entries from local price action (except that I don't trade the JPY, myself).
%% I havent done a lot of study on that lately; but any uptrend for me to enter, would have to look a lot better than that+ 200 day moving average alsoPS When i do look @ straight trend lines which is seldom; has to uptrend better than that, 2; that is wisdom. Thanks good question