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 :)
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