Trading Pullbacks System

audcad

Meyney wrote: Mon Oct 11, 2021 9:40 pm audcad

audcad 1H went North...as we can see the trendline was not broken (with decent short momentum) so no short setup for me=template. Some traders will build positions into the overbought situation when trend is down (they got already very nice runs).

usdcad

nice longs uj

eu 1H we have seen plenty of impulses down already with nice entries. Perhaps momentum will change to the upside...possible...keep watching...

You can add market structure (zigzags) to get the bigger picture

see on eu 5m how it left the SD 1H 2 bottom

some confluence bounce on eu daily weekly channel and 161 extension

eu

What is the meaning of black dot in the RSI indicator below?

Also, any tips how and when to set up the trendline properly to avoid untimely trendline placement that leads to false breakout?