AUD/CAD – Short Position Taken
This one was on our watchlist earlier, and it just printed a clean engulfing candle trigger. Here’s what I look for before entering a VMS pullback trade:
A clear new high/low before the pullback
A clean pullback (no choppy mini-pullbacks inside)
Pullback into support/resistance zone
Price action at or near the 50 EMA
Engulfing candle in trend direction
Strong volume (trigger candle should stand out)
Momentum “hooking” in trend direction and below/above 0
We took a short position based on this alignment.
What do you think — continuation or reversal? Up or down from here?
This one was on our watchlist earlier, and it just printed a clean engulfing candle trigger. Here’s what I look for before entering a VMS pullback trade:
A clear new high/low before the pullback
A clean pullback (no choppy mini-pullbacks inside)
Pullback into support/resistance zone
Price action at or near the 50 EMA
Engulfing candle in trend direction
Strong volume (trigger candle should stand out)
Momentum “hooking” in trend direction and below/above 0
We took a short position based on this alignment.
What do you think — continuation or reversal? Up or down from here?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.