i've been reading a great book from the library (louse bedford, charting secrets) and just want some clarification on what this means:
If the overall market is bearish, it is probably a good idea to wait for the pullback change of polarity to occur before opening a position. this will lead to heightened confirmation that the uptrend will endure. if the overall market is fairly buoyant, consider jumping into a long position at the first sign of a breakout. breakouts ...more likely to hold when...market is whispering 'buy, buy, buy'
i get what it's saying but how can i tell that the market is bearish? how can i tell that the market is buoyant? what feature or trendline or what...