PullBack Day Trading Strategies Part 3 👍 Video
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Trading Pullbacks Conclusion. http://www.financial-spread-betting.com/course/what-is-a-trend.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! In the previous lessons, we talked about pullbacks, sometimes known as retracements, and the best ways that they can be traded. Last lesson, we looked at the first pullback of an uptrend, and discussed how you frequently see three pullbacks while the trend is in motion.
The first pullback typically takes the shortest amount of time and comes back the least amount in price. It’s also the most likely one to occur, subsequent pullbacks may turn out to be reversals. So trading on the second phase pullback will be harder.
The second phase pullback will go on for longer, and may pullback further on the price than the first one did, though of course you are in an uptrend so the price will not return to its starting level. The third retracement may be worse still, with the chart stretching out further. This is to be expected, as each subsequent pullback has less energy than previous ones, as the market finds its level.
To trade these later pullbacks you can apply the same principles that were discussed for the initial retracement. In other words, first you look for areas of support, preferably repeated to confirm them, and place a trade when the price comes back down to touch support.
Another method that was talked about to find an indication of when to trade is using trendlines. In this case, with an overall uptrend, we are looking at a retracement downwards. You would look to connect the high points on the move down to give you a trend line, and may decide to take a trade when the price comes up through that trend line to resume the uptrend.
The third method of checking on possible trading opportunities is the simple one of superimposing a simple moving average and checking when it is crossed by the price. The 20 period moving average works well in most time frames, both the intraday and the short-term trading time frames. However, as shown in the video, you can experiment with other averages such as the SMA (100) and see how they compare on the actual financial security you are looking at.
Although we say that three pullbacks are the most likely result you will see, just as you might only see one or two, you may also see four or five. If you get this number of retracements, it will usually be evident that the uptrend is unwinding.
Each successive pullback will probably go on for longer, and may take away more from the last move before resuming the uptrend. It is important that you look for other indications of how strong the trend is, and whether it is weakening, to form a value judgment on whether the subsequent pullbacks can be traded or whether they may be the start of a reversal in trend.
You can learn a lot by looking at historical charts and identifying the areas of uptrend and pullback, noting where support and trendlines would be placed and what the result would be. This allows you to gain experience in identifying these before you take part in live trading.
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? 🤔
https://www.youtube.com/watch?v=GT17JEO5GYw
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