I'm trying out position-trading. I am used to SD-trading, so position-trading/trend-following is new to me. I use long term trend, last years high/low, and reading price action to analyse the market. Here, I see a well established downtrend with alternating profit-taking and buy-ups before new selling. Buy-orders are currently building up. Still short bias, but potential longs on the way up to new selling at/near previous resistance. If not comfortable buying the pullback, wait to break 2015-support.
Comments
zaheeranwaritrader
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You certainly do not want to be entering buy orders looking for a trend reversal.
zaheeranwaritrader
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I would say that the overall trend is bearish.This is very much in consolidation and not a good looking chart at all. It is also trading between the annual levels of 2015. Until price dictates a clear trend direction you want to be standing aside.
eirik.kaasa
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@zaheeranwaritrader, Thanks for the comment. I will read more in the e-book and watch more of your videos. Cheers!
zaheeranwaritrader
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@Eirik.kaasa, You are welcome. And yes the eBook will clear a lot up.