As the old saying goes" the trend is your friend" is still true to this day and will most likely always be true. The reason behind that is if the market is continuing to make higher highs and higher lows why would you bet against it? There isn't a reason unless you are doing so on a short term basis or specifically a counter trend trader.
At Gorilla Futures every day and every week we go over our top down analysis in either a stream or a video format that is sent to your inbox. There reason behind this is we like to follow the higher time frames due to the fact we are trend traders for the most part.
This means we like to stack time frames in our favor. For example if the monthly,weekly,daily and hourly chart are all moving up it would be safe to say the overall trend is moving up or bullish. Why would I then go and take a short and most likely get run over by the bulls? You wouldn't and this is what makes trend trading so popular and potentially rewarding.
If 90% of the market participants are looking for longs there is no reason to take shorts, now there are some cases where we might look for shorts in a strong bull market or when price is near all time highs, but for the most par