How do you day trade?
What is a weak trend?
The easiest way to explain it is:
Down trend – the pivots of the price action are lower than before, even if it’s by a hair, it’s still going down weakly
Up Trend – the pivots of the price action are going higher than the others, even if it’s weak and consolidates for a short period of time
So what do you do with this type of trend.
Basically watch it very closely.
The best time to ever enter a trade is at the beginning of the trend. So if you got in a valid trade in the beginning ride it out.
Then it’s best to simply wait until you have some more strength and all the green lights of your trade set up strategies before entering again.
So if you have any questions you can always ask me at traderchick.com and if you want to learn day trading basics – check out MY Courses.