Forex Essentials in 15 Trades by John Bland

Author:John Bland
Language: eng
Format: epub, pdf
Publisher: John Wiley & Sons, Ltd.
Published: 2010-05-10T16:00:00+00:00

TREND COMPONENTS

All trends at all price levels and in all time units have two components:

• The primary trend is the direction of the market.

• The secondary trend is the direction opposite the market.

No market goes straight up or straight down. (This is the philosophy behind the bounce in Chapter 10.) Every market has corrections or secondary trends. Figure 12.2 shows a typical degree of up-and-down market action within a trend. No market is ever one-way—as least not for very long.

THE MATRIX

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