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--- forex:trend [2024/08/03 13:00] – peter
+++ forex:trend [2024/08/03 13:03] (current) – peter
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+Check the behavior of the price action after retraces and check it as it approaches the long-term moving averages such as 21 day ema (exponential moving average) or a key horizontal resistance level. Does the price action repel down as in a downtrend or bounce up as in uptrend? This kind of price behavior is a good clue to confirm the underlying bias / trend of the market.
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+Put a 200 and 50 day ema on your chart and check out the long-term slope of these ema.
+This is a good quick way to identify the overall dominant trend of a market. Look at how prices are reacting near the moving averages (value zone), if the price is respecting those EMA levels and repelling/bouncing away from them on several occasions, there is good evidence the market is trending.
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