As I'm studying sweeper trades I'm going to post analysis now and then to help myself and to share it with all of you.
Here goes.
Today I saw this sweeper trade:
Settings on the EMA on the 30 minutes: 13/34
My thoughts:
I saw the sweeper level appearing.
I checked if there was a demand pattern and I think there was not.
Then I waited for the EMA crossover.
Entry was on the close of that candle after the crossover.
Questions:
Is my analysis correct and if not, what should I pay more attention to?
The wick went through the EMAs; is the sweeper still valid or should it always just touch or just go through the fast EMA?
And I would also appreciate your thoughts Sean Kozak / jeff conley 🙂