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Hi, everyone. Fairly new trader here. I think I tend to be more of a counter trend trader. Days like today I end up getting beat up. What are some indicators/ indication that we are going to have a long trend like today?
Also very open to hear any simple trade setups with high probability if anyone has one they are willing to share
Trading: All Eminis: Russell 2000, S&P's, Nasdaq and Dow
Posts: 15 since Sep 2018
Thanks Given: 17
Thanks Received: 12
The easiest way I see a trending market is to use moving averages. I usually use 8ema and 34 ema and you will see price action usually trade below on bear trends and above on bull trends. Also its a matter of perspective. If you are trading the 5min chart, then always take a look at the 30min to 1 hr charts just to get perspective.
Please friend and contact me and we can chat more if u like.
The Volume Weighted Average Price (VWAP) is a good tool. Lizard Trader is having a good one.
Big Mike probably is having a good VWAP for Elite Members and a subscription will cost you less money.
price action is best to determine slowing momentum imo. I use a variation of guppy, this helps to see squeeze times or when they are spread way out, price will come back to the mean. (counter Trend trades)
