Pullback Setup
Last updated
Last updated
Price makes a pullback below short-term MA but still above mid-term MA, usually good coins here resemble bull flags.
This is a trade I personally took, FTM (H4). The arrow represents the time where KreiosLabs classified it as a pullback setup. As you can see usually, there's a big impulse followed by a pullback resembling a bull flag. There will be some coins that KreiosLabs will classify as pullback but won't look like this—it's better to avoid those. Focus on recognizing what good pullback coins look like and use that as a filter.
If in the case there are multiple coins under Pullback, you can sort them by RSI, %change, or volume traded or filter them by Top 10 daily gainers or Top 20 weekly gainers.
Check the coins listed under this setup on the DAILY timeframe, stalk the strongest coins, and play them on a lower time frame using different setups (momentum, pullback, etc) on the next coming days.
You may notice that sometimes the coin is not even in a pullback.
Yes, this happens sometimes. You still need to check if the coin in pullback setup looks good. The screener will mechanically detect a pullback based on moving averages and not discretion. So ideally, look at the coins the screener tells you and then apply filter / sort and then decide.
