Hello reader, Today is the Day 3 of EMA strategy testing series. I am ready with the data for august 23. Today we get three trade which is suitable on this strategy. So, now I will discuss that trade analysis. I am adding the screenshot of today trade. Let’s get into it for understanding it throughly.
Today’s market is very dynamic, the first candle itself is of approx 170 point and close nearly at it yesterday low. So we mark that line as a strong support. Meanwhile opening of candle we mark it as resistance.
Trade 1: We get alert candle and make entry at next candle when the market break the alert candle low. Our target is already decided to major support line which we draw earlier and we book profit with 1:2.5 ratio in this trade.
Summary : Entry: 44017 Stop-loss: 44038 Target: 43953
Result : Target Achieved Points +64
Trade 2: While taking this trade it is known that market is going in bullish direction but we have resistance line of first candle high and we take trade after the alert candle break but we hit stop loss in that trade. It is necessary to accept stop loss to be in market for long run.
Summary : Entry: 44116 Stop-loss: 44139 Target: 44045
Result : Stop-loss hit Points -23
Trade 3: Before taking third trade we can see that our resistance line is broken and whenever resistance is broken it will act as support line so with this mindset we enter in trade and book profit of 1:3.
Summary : Entry: 44209 Stop-loss: 44227 Target: 44155
Result : Target Achieved Points +54
We knows that market is bullish but instead of that we make overall profit in PUT side in scalping. So total points we capture is +93. Since this EMA strategy works perfectly in the bearish market but we can make some small profit in bull market also. Day 3 result is we close in green. Great ✌️
Great 👍