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Trend Analysis is the key to remain profitable in the stock market. If you identify trend correctly then you can book profit else your trade will hit stop loss. The whole premises of the technical analysis to identify the trend. In layman terms, if your Trend Analysis is accurate most of the times then you can generate consistent income from the stock market.
If an investor is not able to identify the trend of stock or market then he or she should rely solely on the stocks that are in strong uptrend or downtrend.
For Trend Analysis, you need to follow 3 simple steps i.e.
1. Identify the trend
2. Reconfirm the trend
3. Identify the strength of the trend i.e. whether the trend is strong, weak or possibility of reversal.
Secondly, you should check the chart for a longer time period i.e. minimum 1 year or 6 months.
The historical trades should not bias your mind. A stock in a strong uptrend or bullish can be most lost making a trade for you. Therefore, it is important to select the stocks with rational, logic and without any bias.
You can do Trend Analysis on multiple time frames and stock can be under different trend on multiple time frames.
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