Tracking a Trend with a Hierarchy of MIDAS Curves
MIDAS support and resistance curves are, in the first instance, a means of showing support and resistance areas on a chart. However, these same curves can also do much more for the trader. We've already seen how they can determine if a market is trending or just in a trading range. But more important than that, they can be used to track a trend, giving a good indication of when the trend has ended, which is the topic of this section.
Trends virtually never go in straight lines. Almost always, there are fluctuations on timeframes shorter than that of the trend, and often those fluctuations are large enough to be seen as significant pullbacks against the trend. Most commonly, a trend has three or ...
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