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（Created page with "Two legged pullback in a bull move, but it can also be a 2nd reversal up from a selloff, so variation of a double bottom"） |
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Two legged pullback in a bull move, but it can also be a 2nd reversal up from a selloff, so variation of a double bottom | Al Brooks: Two legged pullback in a bull move, but it can also be a 2nd reversal up from a selloff, so variation of a double bottom. | ||
Ninetrans: ''A two legged PullBack to the Exponential Moving Average in a trend. Most trending days have two or more continuations. Most continuations are A2, which is a 2 legged pullback to the [[EMA]]. '''The simplest way to look at an A2 is the second attempt to end the pullback'''. As long as any of the bars that make up the pullback are near the EMA giving an entry slightly above or below it, you can consider it an A2. '''Another way to define this is two failed attempts to reverse the trend''', i.e. failed L2. Note that if your A2 entry is very far from the EMA, you may get a 3rd push which turns into a W pullback to the EMA. These should be taken just like they were an A2. In a strong trend, you may have H1s and L1s that work, but new traders should just stick to A2.'' | |||