Hello readers, Today is the day 2 of EMA strategy testing series. I am ready with the data for the 22 august. We get only trade today with our setup in the bank nifty. Now we will do the analysis of the trade, so here is the screenshot of today trade setup. Let’s get into it for understanding it thoroughly.
Since we get today only 1 trade with our setup so we will look into it. In the image, you will find the alert candle which is above the EMA line this is the exact time to study the behaviour of the market. Since the market is open gap up but alert candle is rejected by the opening candle high and also we see that there is good support at 44000 level. In this type of situation, most of the time market behave boring move so we took trade and patiently wait and book a good profit. Since our stop loss is less we can wait for long time.
Summary : Entry: 44107 Stop-loss: 44140 Target: 43946
Result : Target Achieved Points: +161
Overall, we close day 2 in green with total point of 161. Great ✌️