gongo, buying on a pullback is one thing
But buying after the pullback has stopped is when you should look to buy. That's where moving averages help. I don't know what timeframe you trade (5-minute, 15-minute, hourly, daily, etc.) but whatever it is watch for a crossover upwards before you buy, confirmed by a stochastics cross or a MACD rising above zero.
Here's an example on $XAU
stockcharts.com[h,a]daclyyay[pc5!c8][vc60][iLp14,3,3!La12,26,9]&pref=G
I used 5 and 8 emas but you can experiment with others until you find ones you like (3&6, 5&10, etc).
This simple, mechanical method was laboriously taught to me by a savvy old trader I met, I think his name is FLACK, or something like that . . . . <g> |
