True enough about pullbacks to the B/O pt especially with ETFs but I have a hang up about drawdowns. I just don't do them so have to be timely or miss the move. One can always get onboard on a pullback further up the rally as well too. I usually just trade from a point A to point B anyways so it really doesn't matter much.
Here is May Silver. Still a sick puppy in a downtrend since the April highs. One false breakout that failed quickly. Seaonals are very bullish from mid March to mid April historically. But precious metals tend to zig zag downward into a summer low,especially Gold.

What is worth paying attention to is see the major moving averages all converging. While most don't consider this important I have found "price" tends to move sharply shortly after this occurs one way or the other. Recall I mentioned this to you in mid Feb about UCO and it went from $41 then to $50 in just over two weeks after seeing this. I got that tip from the book the Magic of Moving Averages. They used different moving averages but like many indicators the magic isn't in the numbers themselves but what a group of moving averages converging means. One must always try to understand what an indicator is signaling and why. Never figured out the why but It does produce sharp moves in one direction or the other most of the time. If all I did was buy Option Strangles on everything I saw this occur on I'd be rich. But hey, that would be waaaaaaaaaaaaaay too easy. If I can't do it the hard way I wont do it at all,lol.....................