the best way (so far) that i have found to determine the change in trend is as follows (i am still waiting since months to see it fail) :
if the line joining the base/feet of waves makes an angle equal to more than zero degree with horizontal, the up trend has not changed.
if the line joining the tops/ heads of waves makes an angle equal to or less than zero degree with horizontal, the down trend has not changed.
check the result in outer time charts to confirm.
e.g. if 2minute chart says, trend has changed
check in 5 minute chart and then in 30mintue and then in 1day-tick chart.
outer charts tell you the reality and extent of the trend change.
if the line joining the base/feet of waves makes an angle equal to more than zero degree with horizontal, the up trend has not changed.
if the line joining the tops/ heads of waves makes an angle equal to or less than zero degree with horizontal, the down trend has not changed.
check the result in outer time charts to confirm.
e.g. if 2minute chart says, trend has changed
check in 5 minute chart and then in 30mintue and then in 1day-tick chart.
outer charts tell you the reality and extent of the trend change.
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