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DislikedBug,
Here is how I do it and I am sure DanUK does it about the same way as far as looking for S/R levels he is a pretty good trader from what I have seen, I am sure all trend traders follow similar rules and methods. But for the intraday trading target methods I use the ADR (Average Daly range) but if you hold the positions longer than the ADR is not needed.
--NMIgnored
Dislikedinteresting, can you please clarify?
Cause I always thought that trends depend on how far you go back in time.
Let's say we have a super-cycle that goes up and down every 100 years and within that are decade long cycles and within that then yearly cycles and so on.
So what is the trend then? the super cycle / trend? or is it the yearly? or the 5 min?
What if in the very very long-term we are up, let's the last 100 years. And what if the last 10 years have been down? Are we now in an uptrend or downtrend?
Would love to hear your explanation....Ignored