Hi Guys, I am new to trading and have been following varsity for some time now. My question is a basic question which is while we are on a daily price chart and when we are trying to understand the prior trend, how many candlesticks data do I need to analyse to understand whether it’s a downtrend or uptrend.
It’s not the quantity of the candlesticks , but the nearest lows and highs determine the trend. If previous pivot low is broken , then it’s downtrend and vice versa.