DON'T FIGHT THE TREND 10/29/13

The trend is your friend,  OK, it may be cheesy but it is a valuable position to consider for most traders.  Can counter trend pay/work? Yes.  But like all trading thoughts found in books, Internet, and traveling caravans, what works for one does not necessarily transfer to another..  Well, not as fast as the "pay for this" transfers...

Counter trend has a role as does any trading strategy.  But the one strategy that will keep you in the game long enough to turn the corner is to focus upon the trend.

Today we had three attempts ( a W) to break long in a bullish market.  What was the difference between a breakout and a range bound day?  The SB gaps developing.  Note the gap to the SB (red line) and the bullish TL that developed.

The market walks, talks.  Sometimes it sings.