Hey all you price predictors: when is a pullback gonna come?
- Thread starter 1a2b3cppp
- Start date
That's what I have experienced.
I believe Jesse Livermore said the same thing but more eloquently.
Human brains are wired to look for losses/red screens.
When they see an uptrend (gains/green screens), they get very nervous and hesitate/don't buy. Why? B/c they are not seeing losses/red screens.
Uptrend - higher highs being made, last higher low holding
Downtrend - lower lows being made, last lower high holding
When the last HL (uptrend) or last LH (downtrend) is taken (did not hold), it could mean that a trend change is in progress or that it was a fake and the old trend continues.
Downtrend - lower lows being made, last lower high holding
When the last HL (uptrend) or last LH (downtrend) is taken (did not hold), it could mean that a trend change is in progress or that it was a fake and the old trend continues.
also, how would you string them together?
Do you ALWAYS buy if the previous two days were green?
So in other words, if the chart goes like this:
day 1: green
day 2: green
day 3: green
day 4: red
day 5: green
day 6: red
day 7: green
day 8: green
day 9: green
day 10: green
You would buy on:
day 3 (because day 1 and 2 were green)
day 4 (because day 2 and 3 were green)
day 9 (because day 7 and 8 were green)
day 10 (because day 8 and 9 were green)
day 11 (because day 9 and 10 were green)
correct?
Or is it ONLY on the day after two green days preceded by a red day, in which case the only day you would buy in the above example would be day 9.
Do you ALWAYS buy if the previous two days were green?
So in other words, if the chart goes like this:
day 1: green
day 2: green
day 3: green
day 4: red
day 5: green
day 6: red
day 7: green
day 8: green
day 9: green
day 10: green
You would buy on:
day 3 (because day 1 and 2 were green)
day 4 (because day 2 and 3 were green)
day 9 (because day 7 and 8 were green)
day 10 (because day 8 and 9 were green)
day 11 (because day 9 and 10 were green)
correct?
Or is it ONLY on the day after two green days preceded by a red day, in which case the only day you would buy in the above example would be day 9.
I could only fully answer that question if I were you.
But b/c I will never be you, I can never fully answer that question.
You are asking questions that go beyond the definition of an uptrend.
So, the best answer I could give is:
Given your "example" and based on my previously stated definition of an uptrend:
I would "look" to buy on day 3, day 9, and day 10.
