2 Errors Of AUD/USD Trading
Leonardo Barata | May 18, 2016 04:41AM ET
AUD/USD: In this trade a long was taken at the strong VSA signal, though there was distribution behind. This is seen by the multiple Major Supply signals, with the prices not advancing further. A bit after, there was an upthrust bar (pink bar), showing more supply, and a successful no-demand test (light pink bar).
In the entry point there was some buying, though it wasn’t enough to stop the trend. The buy-stop should also have been set above this bar’s high, which comes as a price confirmation of strength.
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