Are Pullbacks Bad? Well! may be not in a bull market
Diupdate
We know that BankNifty is in uptrend so pullbacks are like buying opportunity. But where to buy in pullbacks. Here is one possible scenario. There might be an ABC type pullback which takes it below an important swing low. Many stop would have hit here so price may fall sharply. If you notice a sharp pull back from here, it would be sign of strength. Means buyer are buying the low and trying to fake the breakdown. You may enter your longs in the "Sweet Buy Zone" shown in the chart, with your stop below the lows and target at least up to previous highs.
At present these moves are quite imaginary so be careful and make your decisions as the price action unfolds.
The post is for educational purpose only..play safe.
At present these moves are quite imaginary so be careful and make your decisions as the price action unfolds.
The post is for educational purpose only..play safe.
Catatan
Set up is valid for today only.Catatan
However, it can be generally applied anywhere.Catatan
Catatan
So far so good.Catatan
Just keep in mind that at present we have no idea how far this correction might go. Lines on the right are just for demonstration purpose.Catatan
Here is a signal of strength I was expecting.
Catatan
BankN at crucial support
JJ Singh
Trader/Investor
Moderator, TradingView
🚀Join t.me/jjsingh_2020 ,
A Free Education channel
🚀Tweet at twitter.com/JaySingh_2020
Trader/Investor
Moderator, TradingView
🚀Join t.me/jjsingh_2020 ,
A Free Education channel
🚀Tweet at twitter.com/JaySingh_2020
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.