How to identify Intrday Market Trend

sanju005ind

Investor, Option Writer
#21
Dear Sanju & Ravii,

I understand the point you are making. previous day OHLC points are of-course important and good trading decisions can be taken based on them. But they don't determine todays trend.

If today market is in bullish trend - yesterday's high may act as a resistance or It may act as a support if todays price breaks out above that Previous high. Same way yesterdays low can act as a support or it may become a resistance if price breaks down that point. So once we have a trend, these previous day values are useful in determining good entry, stop loss points. But they cannot determine todays trend. My view.
That's what We are saying.Not important.But they are reaction points which you cannot ignore..
 

Shav

New Member
#22
I think that in order to identify clear intraday trend, several indicators should be followed. The most easiest way is to follow candle stick chart, whit involvement of some stochastics like MA, Bollinger Band and RSI
 

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