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1、CHAPTER2TrendSpottingWithTDComboTOMDEMARKosttradersaretrendfollowers.Theyacceptthewidespreadbeliefthatthetrendisatrader’sfriend.ManyyearsofexhaustiveresearchandMtradingexperiencehaveconvincedusthatthisnotionisflawed.Forthesakeofcompleteness,wehaveaddedacorollar
2、ytothispremise—thetrendisyourfriend,unlessthetrendisabouttoend.Humannatureissuchthatweareinclinedtoextrapolatecurrenteventsintothefuture.Someexpectationshaveoutcomesthatareimmutableanduniversallyapplicable:Thesunrisesinthemorningandsetsintheevening.Cutyourhandw
3、ithaknifeandyouwillbleed.Fallfromanelevatedlevelandgravitywillpullyoudown.Therearenoexceptions.Otherexpectationsmaybedisappointed:Flipalightswitchandadarkroombecomesbright—butwhathappensiftheelectricityisnotinservice?Similarly,intermsoftradingmarkets,aslongasbu
4、yingpressureisgreaterthansellingpressure,amarket’strendisup,and,conversely,aslongassellingpressureisgreaterthanbuyingpressure,amarket’strendisdown.Toexpectthatbuyingpressurewillcontinuetoexceedsellingpressureandextendanuptrendindefinitelyorthatsellingpressurewi
5、llcontinuetoexceedbuyingpres-sureandextendadowntrendindefinitelyisfoolhardy.Nomarkettrendcontin-uesforever,justasnotreegrowstothesky.Marketdynamicsarenotdictatedbytheforcesthatgovernhumannature.Mosttradersarecontenttotradecomfort-ablyandwithatrend,butwhathappen
6、swhenbuyingandsellingpressuremoveintoequilibriumorwhenbuyingpressureovercomessellingpressureorwhensellingpressureovercomesbuyingpressure?Duringthesetransitionperiodsofbuyingandsellingpressure,marketfundamentals,news,andexpectationsusu-allyremainintact.However,u
7、nderthisveneer,thesupply/demanddynamicsareinfactbeingredefined.Maintainingatradingedgebyanticipatingtheseinternalmarketchangesisimperativetoensuringatrader’sgoodmentalandfinancialhealth.2121BREAKTHROUGHSINTECHNICALANALYSIS22OpposingtheMarketplaceContrarytothewi
8、delyacceptednotionthatmarketsbottomduetosmart,informedbuyershavinginsideinformationandthereforeaccumulatingpositionspriortoarally,ourresearchhasshownthatmarketsreverseadownt
