Rising Wedge followed by Traingle
Testing my strategy.
Rising wedge broken to indicate trend reversal.
Triangle pattern forming.
Green EMA Ribbon closing together and above 200 EMA.
Note* RSI hovering between 45 & 55 so could go either way.
Execution: Short
1) wait for price to close, breaking the triangle pattern - must be red candle.
2) wait for EMA ribbon to cross and turn Red above the 200 EMA - confirming reversal.
3) Machine Learning prints red arrow to sell.
3) Stop loss set above triangle pattern.
4) Take profit set at next level of resistance.
Risk:Reward 1:2
Lets see how it plays out.
Disclaimer: I'm a novice and im using a practice account to back test this strategy. Trade at your own risk :)
Rising wedge broken to indicate trend reversal.
Triangle pattern forming.
Green EMA Ribbon closing together and above 200 EMA.
Note* RSI hovering between 45 & 55 so could go either way.
Execution: Short
1) wait for price to close, breaking the triangle pattern - must be red candle.
2) wait for EMA ribbon to cross and turn Red above the 200 EMA - confirming reversal.
3) Machine Learning prints red arrow to sell.
3) Stop loss set above triangle pattern.
4) Take profit set at next level of resistance.
Risk:Reward 1:2
Lets see how it plays out.
Disclaimer: I'm a novice and im using a practice account to back test this strategy. Trade at your own risk :)
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.