VRX presented a "perfect pullback" setup Tuesday. It gapped up and pulled back to the 50% retracement of the morning's range. It found support at that level as bars 6, 7, 8, 9, and 10 all failed to close below it.
The tenth bar was a "hammer-type" candle, and for those of you who enjoyed Tom C.'s charts with his MAs, I included the 8EMA (note how it pushes price up). I entered on a break of the tenth bar high and sold at the FE. It was a nice 5% move!
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