Forex strategies - Pullback trading strategy
A pullback is the short term move in the opposite direction of the longer-term trend. Which can offer an opportunity to join an uptrend at a relatively advantageous price. The Trend is maintained, as in the long term (in this chart), the market moves up. After a "Support and resistance range breakout", a pullback is always a good opportunity to buy. Pull back signal chart (showing pic). Let's see some examples.
Pull back breakout rules
1st support and resistance
TD (Trade display frame): H1, H4 and daily
1st case support and resistance breakout upward
2nd case trendline breakout at upward