bracke said:
KJH
Counting the 3June I have 4 up days. Apologies if I am missing something.
Regards
bracke
No apologies needed.
I don't count a day up unless it breaks the previous daily high. June 4 was the first day (up) that broke a previous days high.
I found that when I change to this approach market momentum and trends became much clearer (for me at least)
Another example if I may...May 20 I don't count that as a day down for possible trending purposes even tho the market closed much lower. It was an "inside day", that closed down. My first day to start counting for a trend would start May 21 cause it broke the daily low ( and then went no where !)
Look at, if you will, as I noted in the post earlier, 3 days up verses 4 days down to identify where the market momentum / counter trend strength is or isn't.
Look to May 4-May 5th, 2 days up swiftly taken out by 2 days down when May 7th broke the low of Apr 30th.
Another...Apr 27 to May 4 low. 4 days down took out 6 days up. Count back from Apr 23 high.
( Apr 26 isn't part of the count as it didn't break a daily hifh or low)
Does this make sense ?
Helps get me on the right side of momentum moves....
Your thoughts ?
KJH
ps. Once a daily high or low is broken and a count is started I then include inside days. And yes, outside days get tricky--until the direction is resolved and that usually happens in a day or two...