STAY LONG WITH STOP 1380 ON CLOSING BASIS
WHAT IS PULLBACK ???
A pullback is a temporary reversal of the current trend, either up or down. The price action in the market moves like a wave:
- in an uptrend market, you will see price continue to increase but even whilst it is increasing, there will be times when price will drop. Then price rises up again going past its previous higher high (example form the chart above).
- in a downtrend market, the same but opposite happens. Price will continue to fall but there will be times when it will rise only to drop back and go down past its prior lower low
disclaimer - join your study to enter trade.