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if the demand is more than the supply then it is dullish
and if the demand is less than the supply means then it is bearish
if it found with higher bottom with higher top with more volume then we can expect price to go up
if it found lower top with lower bottom with more volume means then we can expect price to go down
Here we need to analyze min 2 year data as line chart.
Identify higher top/higher bottom/lower top/lower bottom w.r.t previous top/bottom.
identify sequences:
Higher Bottom – Higher Top – with volume ==>Bullish trend (means Demand > supply)==>Buy (Create Long position)
Lower Top – Lower Bottom – with volume ==>Bearish trend (means Demand < supply)==>Sell (Create Short position)
market trend we can check using higher top and higher low by comparing past few month chart.
It takes at least 2 years input of line chart of the company When demand > supply with good volume then market is up
Supply > demand with good demand then market is low ,using higher top and higher bottom
the market trend could be determined using the higher bottom, higher top, lower bottom and lower top as reference points along with the volume of trade taken place at the points.
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