This post was originally posted here. The writer, Rayner is a veteran community member and blogger on InvestingNote, with a username known as @Rayner and has 609 followers.
One of the most common questions I get from traders is this…
“Hey Rayner, how do I identify the direction of the trend?”
However, it’s not as simple as it seems — even if you use trend indicators.
The Daily chart is in an uptrend.
But when you go down to the hourly chart, it’s a downtrend.
And if you go down to the 5-minute chart, it’s chopping all over the place.
So what should you do?
Well, you’ll know the answer after reading this post because you’ll learn: