The Stock trend is very important for intraday trading. A trader cannot research and find out the stock trend after the market opens. Therefore, it is important to do the homework.
There are many intraday trading strategies used by different traders. Recently, i tested a strategy wherein i used 5 days exponential moving average and the Average Directional Index.
Normally 5 days EMA acts as a resistance if the stock trend is downward and support in case the stock trend is upwards. Therefore, during intraday trading, the trend reversal is when the stock convincingly breaks the 5 days EMA.
In this simple analysis, a trader has to check the stock price, 5 days EMA and the ADX in conjunction with each other to identify a stock trend.
RESPECTED SIR Namaskar
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