The Dow Theory – Trend Levels

The market movement consists of […] trends level:

The […] movement contains all the current economic information, and it’s a more theoretical rule that we will touch on in the future as well:

The main trend means:

The secondary trend means:

The minor trend means:

We know that we’re analysing and trading a low time frame, and we can define the length of the trade or our expectation from a specific trade and from what point we can expect it to continue or to change its direction:

The specific movement is a particular uptrend in the large trend movement. This specific movement, the downtrend movement, is still a trend. It’s a movement against the large trend, the main trend. But it is a trend inside this trend. It is a trend in the low time frame in front of the very long time frame uptrend that we had before that: