Please share your opinion how to spot a trend? Sure, just by eye-balling a chart you could see whether the trend is up or down, but what i want is some
confirmation. For examples EMA. Sar etc.
anybody want to share? Looking for long term trend (daily chart)
200 sma, 100 sm and a 50 sma many of the funds use these.
I wouldnt try and be too clever, if your looking at dailys zoom it out and what do you see. That is as good as any fancy indicator (which is based on historical price anyway)
1.-Fundamental economic situation
2.-Day of the week and Hour of the day (Sessions are different)
3.-COT Report
4.-Pivot Points/Support Resistance Levels/ Flat prices
5.-EMAS/SMAS
6.-Fibonacci Retracements (to enter, never against the trade)
7.-Stochastic Oscillator
I would say the elevator is the better analogy, sure the rollercoaster is going up and down but you can see exactly where its going to go by looking at the track.
The elevator goes up and down much more randomly in a 20 storey building it might go up to the 3rd storey then then stop then go up to the 5th then stop then go up to the 7th then stop then then suddenly reverse its direction and go all the way back down to the 1st floor.
There are various indicators to help you identify a trend you can eyeball it like you said or use moving averges or average directional index or bollinger bands to help you forcast when a pair might enter or exit a trend
I use moving average crossovers and ADX to confirm that a move is actually happening. ATR isnt bad to make sure its increasing which shows the a good trend may be starting