Timeframe: 4 Hour Chart
Strategy Overview:
50 EMA Bounce: Entry is after price bounces off the 50 EMA.
Candlestick Pattern: Since this is a long only strategy, look for bullish candle patterns like morning stars, hammers, etc.
Major Divergence: RSI divergence can provide more confidence for upward momentum.
I tried this out on Ashok Leyland a while ago but haven’t backtested it on indices or other stocks. What do you guys think??
Disclaimer: This is not investment or trading advice. It is only for educational purposes. Do your own research or contact a financial advisor.