Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Simple 5 EMA weekly strategy for Friday

21 sec read


 

Let keep it simple in gauging the trend. I'd taken 5 EMA strategy to gauge the overall trend.
Simple 5 EMA strategy – 
1)Candle closing above 5 EMA is bullish with supports at 5 EMA
2)Candle closing below 5 EMA is bearish with resistance at 5 EMA

Applying 5 EMA strategy to Nifty 1 year Weekly Charts we could find that currently nifty closed

below 5 EMA after a long time with resistance near 4292 zone. As the week is about to end 4292
levels should be keenly watch. A close above 4292 denotes still bulls are under control. Else weakness
to witness in coming sessions.
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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0 Replies to “Simple 5 EMA weekly strategy for Friday”

  1. Your observation on nifty 5 day ema support is very infrmative. If I had known and followed your 5 day ema, I would have made lot of money. Thank you for sharing the info with everyoneregardshkreddy

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