I received this this email:
As you are my guru like DRONA..& I m yourstudent like aklavya...i liearned many things from your blogs,your chart patterns yours views regarding stocks etc. Now the question of mine is that why u r not seen from last 4th of august???u know you are working as an oxygen for me & mote other likes me...so sir..pls pls post your blog atleast one in a week.
Thanks for these words. They inspired me to open my lappy and start blogging.
For traders, trend following makes money. The trend can be on any time frame, does not matter, but it is the movement of the market in any one direction that actually gives us profits. Trend is the basis of profits: Not fibonacci, not Gann, not Elliot Waves, not indicators, nothing but trend.
For the intermediate trader, trend is measured on a weekly time frame. Yes, even with all the intraday tools available, if you want a longer term outlook, open a weekly chart.
For the Nifty, the intermediate trend is down. The rally we see now is an ongoing correction of the larger downtrend. Pullbacks / Corrections are just that ... pauses. Corrections are usually difficult to trade, but some amount of points can still be gained, sometimes.