Do you really think the pullback is over? Could this be what I've heard called a bull-trap? Isn't that where there seems to be a trend reversal from down to up so people start to buy back in then...BOOM...back down we go for lower lows?
I am only about 8 months into trading so still learning but do I have this idea right?
I'm unsure of whether the pullback is over. I'm not hugely in to technical analysis, but yes that idea is roughly correct. I'm simply posting an update, but asked at the end for your thoughts to see if you think it's over, so thanks for your contribution!
I think the larger downtrend has subsided, but we could definitely see more of a fall. If that is the case, we will have more time to buy the dips!
Yeah I gotcha man. I'm just being cautious with calling the correction over, and I'm loving the discount prices. Keep it up @lukebrn!
I get you there! I still think it's a pullback, it just might be broken by a downwards trend. Love the picture and thank you!!