Hi Traders,
When one is considering an in-trend trade on the daily time frame, he can look to the weekly chart to see if the weekly trend is consistent with the daily trend.
But what if one is considering a reversal trade on the daily? I found it quite tricky to determine what to look for on the weekly to determine if I should take the trade on the daily. Should I look to see if the weekly trend direction is consistent with the reversal direction on the daily? Any pointers and details as to what to look for would be appreciated.
Thank you,
Norm