Guide to Trading Pullbacks within a Trend Part 1 👍 Video
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Trading a Pullback. http://www.financial-spread-betting.com/course/what-is-a-trend.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Going deeper now into how to trade when you have found a trend, you need to look at the characteristics of the retracements or pullbacks that happen during an upward trend. We already know that it often doesn’t work out to chase a trend, so we want to make sure that we time our entry and exit appropriately.
In the video, we discuss different types of pullback that you will find in practice. A common error made by novices is to trade every pullback the same way. They see an upward drive and a retracement, and keeping it simple seek to go about trading for the next push of the trend identically, regardless of what happened to get to this point.
It’s a sweeping generalization, but nonetheless commonly true, that a typical push of a trend comes in three phases. The first push and pull back is usually distinctly different from the second, and by the time the third push and pull back happens the market is treating the trend in a different way.
There’s certainly no reason why you should expect to always see three pushes and pullbacks, and you will frequently find variations from this. However, we are trying to identify the most likely trading scenarios in order to simplify matters, and if we take this as the typical pattern then we won’t go far wrong.
One of the problems with trading on a pullback is knowing when the pullback has finished and the trend is resuming. The length of the retracement and its extent depends on the strength of market forces, and these are modified by what has happened in previous retracements. After all, all price movements are caused by how traders are reacting to what they see on the chart, and that is bound to change with different circumstances.
Still, aiming to trade with a trend can be one of the most reliable methods to profit out of trading. And if you want to make money by riding a trend, it’s no good entering the trade at a random point on the chart and assuming that the trend will continue to go straight up. You will find that charts very seldom go up continuously, but mainly proceed as a series of steps.
If you do not watch where you are entering the trade, you could easily find yourself entering at what you think is the end of the retracement only to find the price coming further down until you are stopped out on your stoploss order. If the trade would have been a good one, and the trend continues back up after you have been closed out, it’s not only a loss but also extremely frustrating and likely to arouse your emotions, which is never a good thing when you’re trading.
So studying how prices actually behave when they are in a trend and with successive pullbacks can be a very worthwhile exercise, and can make sure that you only expose yourself to the most profitable possibilities. We’ll discuss it more in the next lesson.
Related Videos:
How to Trade Trends and Build a Trend-Based Trading Strategy! 👊
https://www.youtube.com/watch?v=tMfCMTY5TN4
Guide to Trading Pullbacks within a Trend Part 1 👍
https://www.youtube.com/watch?v=aRP6jE6ydgk
How to Profit from Trading Pullbacks within a Trend Part 2 👍
https://www.youtube.com/watch?v=wGJH4pUbaHw
PullBack Day Trading Strategies Part 3 👍
https://www.youtube.com/watch?v=zR9CzWOzSQU
How Can You Determine the Strength of a Trend? Part 1
https://www.youtube.com/watch?v=XbwNTmj4b3Q
How Strong is the Trend? Pullbacks: The Trend Strength Indicator Part 2
https://www.youtube.com/watch?v=WAqg-yUui9U
Powerful Techniques to Determine Trend Strength: Analysing Past Levels of Support/Resistance Part 3
https://www.youtube.com/watch?v=eBBJKbsO8Po
Tactics for Buying Pullbacks In Strong Trends 👊
https://www.youtube.com/watch?v=QnSAfyZtkj4
How to Get On Board a Trade You Initially Missed 👍
https://www.youtube.com/watch?v=n6Ad0hI3zCE
How to Deal with Missed Trading Opportunities! Missing Good Trading Setups!? ☝
https://www.youtube.com/watch?v=BodUCodESFU
Missing Entries, Entering Trades Late; You've Chased a Market...now What? 🤔
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