EURCAD 100-EMA Pullback Strategy

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STRATEGY: 100EMA Pullback Strategy
Focus Time Frame: 1H
Long Term Trend Time Frame: 1D/4H

Market Condition:

• Long Term: Ranging
  
• Short Term Downtrend
  

Area of Value (AOV): 83/100/120EMA : 1.46137 - 1.46065
Entry Trigger (1H): Inside Bar (Low volatility/good RRR)

Entry Price (EP): 1.45919
Stop Loss (SL): 1.46164
Take Profit (TP): 1.45183 (3R)

Analysis:
This is a continuation of the previously closed short position.

Major Market Condition is ranging, but short term market condition appears as downtrend. Currently, the price break above/faked out of 50EMA and found resistance at 83/100/120 EMAs. To put simple, price made a pullback at 83/100/120 EMA.

Strong price rejection manifested rejecting the said EMAs.


OANDA:EURCAD



Note: This post is for my reference/journal purposes only. Trade at your own risk.

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تم فتح الصفقة

Price moving on our direction. Currently at 1.25R