Buy-orders stacking up, expecting bigger pullback

8 gru 2016

I'm trying out position-trading. I am used to SD-trading, so position-trading/trend-following is new to me. I use long term trend, last years high/low, and reading price action to analyse the market. Here, I see a well established downtrend with alternating profit-taking and buy-ups before new selling. Buy-orders are currently building up. Still short bias, but potential longs on the way up to new selling at/near previous resistance. If not comfortable buying the pullback, wait to break 2015-support.