back testing week 3-7 may
1) Identify if you looking for a bearish or bullish market.
1A) Then identify why you think its bearish or bullish. At least 2 reasons.
2) Has price come for a pull back?
2A) if yes then idenify again if we are at a keylevel (trendline, EMA, S/R level) at least two.
3) enter trade with a R:R 1:3.
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1) Bullish
1A) Price broke through downward trend on 26/07. Also created new trendline from 19/03, 07/05, 31/03.
2) Yes
2A) Price created trend from 31/03, 05/04 and 05/05. Hit support level which was previous resistance on 15/04. Also touched 200 EMA.
3) TP 150+ PIPS.
1A) Then identify why you think its bearish or bullish. At least 2 reasons.
2) Has price come for a pull back?
2A) if yes then idenify again if we are at a keylevel (trendline, EMA, S/R level) at least two.
3) enter trade with a R:R 1:3.
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1) Bullish
1A) Price broke through downward trend on 26/07. Also created new trendline from 19/03, 07/05, 31/03.
2) Yes
2A) Price created trend from 31/03, 05/04 and 05/05. Hit support level which was previous resistance on 15/04. Also touched 200 EMA.
3) TP 150+ PIPS.
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