After getting the bull-run confirmation, the next signals to buy are pull-backs. A pull-back in a bull-market is never a sign to panic, but rather, a signal to buy or open positions.
Whether you are spot or a leverage trader, if you have not mastered setting aside your emotions and polishing your laser-eyes speckles, chances are you will miss a great opportunity to hop on, or increase your gains. Read this…
Here are five things to watch and confirm it! Beware! The Bull-Run Is Not Over! Testing Resistance Now!:
1 – Use the higher time frames, preferably weekly or monthly charts, to establish lines marking resistance and support points. Laid from the most recent higher low, to the most recent higher high.
2 – Your horizontal lines will be placed on these two areas, to watch closely, the 0.618 and 0.786, this areas should function as strong support points, and should hold its supporting points.
3 – Wait for a bouncing confirmation. You can zoom in to lower time frames, wait for a large green candle to paint the bounce off resistance, and boom, this is your buy zone now.
4 – For spot trading, you may use the DCA buying strategy, Dollar Cost Averaging, instead of buying all at once. Spread it out into smaller purchases, on different confirmation signals. For leverage trading, if your position is opened, use this zone to add on to your position.
5 – When the market is bleeding, set yourself aside! Go for a break, take the day off, or use your time away from the charts to complete other pending tasks. The most important thing here is to keep your health, remain calmed, level-headed and laser-eyes ready to take intelligent, instead of emotional decisions.
All my tips and tricks I have accumulated myself over the years, after several moments of frustration and feeling I was doing something very wrong, leading myself to feel left behind all the time. But I was decided to , so I put all my attention and energy into learning, and I know you can do it too. You got this!
Leave a comment below if you are bullish, panicking, thinking of selling, or still remain calmed and level-headed. Cheers!
Happy trading!
The Violet Rose