NEW TRADER AND STILL BACKTESTING MY METHOD, WHAT DO YOU THINK???
I just started to back test my trading plan but still unsure if this would be a good analysis of the chart and whether it was a good place to put my stop loss and take profit if anyone has any recomendations or any feedback i would reallyappreciate it
thank you very much.
i saw that it was a down trend so i marked it with a trendline and also it was rejecting my support so i looked for a break out and a confirmation, my EMA crossed the red which was ma first confirmation of a continuation and den i waited for any bullish candlesticks and noticed a high amount of red candlesticks and the noticed that there was a hammer and a doji so i decided to 'place the trade' right after those candles and pulledmy take profit to my oter support and kept my stop loss afew pips the support it broke.
thank you very much.
i saw that it was a down trend so i marked it with a trendline and also it was rejecting my support so i looked for a break out and a confirmation, my EMA crossed the red which was ma first confirmation of a continuation and den i waited for any bullish candlesticks and noticed a high amount of red candlesticks and the noticed that there was a hammer and a doji so i decided to 'place the trade' right after those candles and pulledmy take profit to my oter support and kept my stop loss afew pips the support it broke.