This is Part 2 ; watch Part 1 first here:
http://youtu.be/u_YD2vfBefoHow to learn how to gauge the future price of your stock?
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Hello I'm Prateek Singh and welcome to part 2 of the market scientist episode concerning trends,
If you haven't seen part 1 I suggest you got back and see it because you won't understand what tihis one is about
I last left you with this image, I also asked you to find swing low in this chart. I hope you were able to do this because this is the answer if you did get everything right that's great if you went horribly wrong then I'd suggest you visit marketscientist.in
The link is in the description; take the apprentice course, this is 100% free and will give you enough material to practise swing high and swing lows. So trends are made of swing highs and swing lows or waves, now a wave is a very natural part of the market, as I said in the previous video markets will generally move up and down in a gradual fashion over long periods of time. Now when you are going up or an uptrend we get higher swing lows and higher swing highs.
Now it's easy to see this chart that very sing low was higher than the previous one and every swing high was higher than the previous swing high.
This is called an uptrend, likewise a downtrend has lower swing highs and lower swing lows.
So every swing high you see on this chart has a lower swing high than the previous one.
So a set of lower swing highs/lows every time the market moves is a downtrend and a
Set of higher swing highs/lows is an uptrend.
Words may confuse but if you see charts then things become much simpler.
Now the question still remains, how do we know when market is changing direction There are two things you should look it. When your stock is in an uptrend and it breaks the previous swing low the uptrend is now in question. When this happens we are looking to see if this fall continues or not, it could still continue the uptrend however if we make a LOWER swing high and continue down , we have the characteristics of a downtrend within a uptrend this means that the almost certainly this uptrend is now over and we will either go sideways or a bull blown downtrend.
This is the same for a downtrend, when a previous swing high breaks and we get an higher swing low, markets continuing up to new highs we can safely assume at the downtrend is over and that a new uptrend has begun.
Now these are general rules that can be used for all markets just make sure they are not spiky, or no volume. These will work great on nifty 50 stocks.
as I have said before Marketscientist.in has an apprentice course which is free and has enough exercises to teach you trend change.
I hope you learnt something in this series today and you can apply it in your trading, always remember that anything worth doing in life takes courage, patience and a lot of hard work.
don't forget to like and subscribe to the videos and visit Marketscientist.in to sharpen your trading skills and learn to be a more profitable trader, we have tons of resources on the premium member section so I hope I see you there.
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