The short term trend has been up since a while. I will show you the Nifty futures chart which I use. This is a 15 minute chart. Note the dash-dot line which is a control moving average that tells me the short term trend. This average turned up on June 11, around 1400 hours. Futures were 5030 approx. The uptrend was strong, with the average continuing to move up, till, yesterday, june 23, when the control average turned down.
Now, here is the challenge: The Nifty maintains its strength while the primary signal that I use has given a down trend signal. It is possible that this may be a whipsaw, which means the average could turn up again, giving a loss on a short position. It is also possible that markets may move sideways and the average can become flat, like a straight line. But, the current reality is that it is falling. The challenge is to follow your signals as they are visible now.
The software used is Trend Analyzer which I feel is ideal for the short term trader. More information is available at the software website here
Get 10 Trading Lessons FREE Click Here
DO take advantage of these lessons.