"my comments were meant to be an add on to your observations only, if you do not agree with them that's fine.."
It's not that I disagree with all of what u said but now u know how to lodge a chart u can then give us a lesson in what defines a trend ? in your view !
I posted a quarterly chart as today we are at the end of the quarter . I also posted a likely target a few days ago for the end of the quarter . I did the same for a yearly perspective which many didn't seem to understand as it was based on June close to June close . So lets look at that again come 2015 June close .
I work on trends based on time frames whether by the minute ,daily , weekly monthly quart or even yearly . I also use FIB , trend lines and patterns . But not a great fan of stoch,rsi's etc but do use them at times . I also pair markets but that is a hard one as Yanks bar NDX are making new highs and not much else is [dax the exception]
So in my view it is not correct with u saying
"gse - of course, because the market o/a has been in upward trend for that period ....... if you can find yourself a market that has been in downward trend for 22 years you will probably get the reverse results..."
So I make the point that are [ARE] we in fact in an uptrend and based on what as xjo is still below 2007 highs which is 7 years now .
An old style and very left field method might be to chart the stocks in the xjo as of 2000 and how many exist now but others make the argument that is not relevant . Horse and carts were relevant to the dow jones in the 1900's as were the rail roads etc but they don't exist anymore . GM was in the Dow a few years ago until they went broke etc etc .
But the real point is they don't matter as we are trading cash and the things that make up an index are neither here nor there .lol
SO HOW DOES THIS RELATE TO cfd's ?
Obviously the overall trend of markets like xjo ,dow ,ftse,dax etc etc can determine the trend for all or most stocks in the ASX etc . BUT depending on how one defines a trend is to whether we should be long ,short or on the fence .
For those who trade minute by minute or day by day obviously being in harmony with the overall trend is the important thing . BUT if u trade indices intraday the opposite is often the case that u have to go against the trend to make bucks it is called gap filling .
http://hotcopper.com.au/threads/hong-kong.2368519/?post_id=14042076
Thor went short HK yest morn based on what he saw happening in HK over the weekend and told us all before hk opened . The reality is HK was in a down trend as it had broken the prev months lows already and the double banger is u will note on this chart it gapped over the yearly close of last year , .
I'm pretty sure if it had gapped down and then ran up into the HUGE gap Thors head would of been up the creek and would of come up with all forms of illogical reasons why the market was wrong . THAT'S TRADING FOLKS AND WE ALL DO IT . lol So be nice .
avaniceday .
