If you are using Heiken Ashi candles it is hard to see why anybody would be looking for pullbacks at present. Firstly, the candles are green with with upper wicks which tells us to stay long until a wick appears on the lower end of the candle body usually in the shape of an indecisive doji and certainly lighten longs or take some profits if the doji is followed by a red candle with a lower wick.
There are a couple of ways to add to the position as price goes up like whenever a green candle touches the 8ema as it did yesterday, the day before that and also Monday was a good day to add as all those days had green candles touching the 8ema. Another popular time to add in a rising market is if a green candle appears the day following a single red candle because it means that sell tried to take the market down but failed in the attempt.
If a pullback is about to happen you will be the first to know because on a Heiken Ashi chart you will see a lower wick on either a indecisive doji type candle followed by a lower wick on a red candle and that is just not happening at present. There is no need to second guess pullbacks just stay long until a sell signal is created.
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Price($) | Vol. | No. |
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