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Re: And the Best Countertrend Signal is ...
Interesting as the saying dont fight the trend seems to be a rule amongst traders.
On the other hand, I am a countertrend trader majority of the time mainly because I seek responsive buying/selling.
Shaun Downey, author of Trading Time, describes responsive buying/selling as: "Long-term traders dictate the end of the trend by withdrawing initiative activity, taking profits or establishing countertrend positions. They also dictate when the reaction to a trend has been completed."
That being said, I use a combination of S&R with MP and volume for countertrend trades but take profits swiftly with somewhat fixed targets in mind.
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