How to Identify a Trend Day Early

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Originally Posted by ap* (Post 1189657) Sir the trend today after open was clearly up. The strong finish has only showed a change in direction. Market can move 100s of points without making a bottom or top we should just trade the direction of the trend. As of today the trend is up.

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Originally Posted by BearsTruth (Post 1189659) I agree we should mostly go with the trend, except in exceptional cases. Today I won't call a trend day, just a technical bounce. I did not trade today because bounces like these can be very dangerous for stop loss. :D Was just watching the screen and planning lots of trade in mind for future use. I have selected few stocks for put buying etc.

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Originally Posted by NoviceStockTrader (Post 1189664) Sir, Most of us here trade the smaller time frame. So on a 3/5 minute chart, today would be considered a trend day. However, if you looked at larger Tf like the daily, it appears like a pull back day from an oversold area of support.

Dear friends, we all seem to have different ways to look at the market. Some says it was a trend day in Nifty, while other do not think so.

I want to know, if there could be some method by which we can Quantify the Intraday Chart of 5 Min Timeframe and clearly say that if these conditions are met, then this day qualify as a Trend Day or if such conditions are there, then it qualifies as a Choppy or Non Trend Day.

ST sir has also mentioned many times that we must keep the Market State in mind, for using ATR based stops etc. During different market states, we need to use the tools differently. So I am trying to quantify these 2 Market States - Trendy Vs Choppy, based on intraday 5 min bars data.

Thank you so much.

Best Regards

How to Identify a Trend Day Early