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You don’t need a trend to make money, as most swing traders who uselimit entries are taking positions anticipating a change of trend.That doesn’t mean that they have taken the trade based on a trend.A recent example.Over the past 9 weeks the DOW has hit the 5-day highs 14 times.That means that the daily trend has to be rising upwards into higherpoints.8 of those 14 times or 57%, price has reversed back into the 5-day 50%level the same day or the next day.To say “ without a trend in the direction of your trading you won’t profit” is simply ignorant of other pattern recognition methods.
You don’t need a trend to make money, as most swing traders who use
limit entries are taking positions anticipating a change of trend.
That doesn’t mean that they have taken the trade based on a trend.
A recent example.
Over the past 9 weeks the DOW has hit the 5-day highs 14 times.
That means that the daily trend has to be rising upwards into higher
points.
8 of those 14 times or 57%, price has reversed back into the 5-day 50%
level the same day or the next day.
To say “ without a trend in the direction of your trading you won’t profit” is simply ignorant of other pattern recognition methods.
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