My system is to buy when a new candle opens above EMA 30 and close at profit when the price touches EMA 55, but it's not like that only, before the trade should open a line must be drawn on the EMA 30 and that line must touch a tail of a candle in the previous down trend and a formed previous Zigzag indicator touching the 30 EMA but not reaching the 55 EMA yet, and the stop loss should be under the last bottom. The sell trade is the same in the other direction.
P.S: The entry should not be directly when the new candle of the same time frame opens above the 30 EMA, because we must work with 2 time frames, the actual + the one before (1D + 4H) or (4H + 1H) or (1H + 15M) or (15M + 5M), so if the candle tail touches the 30 EMA and close above it, we must watch the previous time frame and open a sell trade when touching the 30 EMA and only when a new candle open under it, so it will be a sell limit order with price touching the 30 EMA, or just sell market price when touching the 30 EMA.
P.S: The entry should not be directly when the new candle of the same time frame opens above the 30 EMA, because we must work with 2 time frames, the actual + the one before (1D + 4H) or (4H + 1H) or (1H + 15M) or (15M + 5M), so if the candle tail touches the 30 EMA and close above it, we must watch the previous time frame and open a sell trade when touching the 30 EMA and only when a new candle open under it, so it will be a sell limit order with price touching the 30 EMA, or just sell market price when touching the 30 EMA.
Note
Waiting for the 4H candle to close and new one open under the price level of the Daily chart 30 EMA to sell by touching this one.Trade closed manually
We should enter buy now, the short opportunity didn't work, enter buy now, stoploss is under the last lower low = 129.575 / Target is the 2nd resistance= 132.030
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.