15 June 2022 – Patience and Entry @21 EMA or 55 SMA

The value of patience in trading is most important as shown here. At about the start of the market, it was volatile. Careful anlysis of a volatile market shows that scalping is possible and profitable if one is willing to wait for Entries at the 21 EMA or 55 SMA.

There was a BreakOut after 15 minutes of volatility. Notice that it went into a tight Squeeze prior to the BreakOut to the Upside. Again, it shows the value of patience that even in a bullish condition, this index does pullback and then found support at the 21 EMA or 55 SMA. With such an Entry, each trade has a high probability of resulting in good profit. Even if it does not find support at the 21 EMA or 55 SMA, losses are kept to a manageable minimum. This is a strategy that patience is the key to being a profitable trader.

One must not succumb to the urge to chase the market. It has the tendency to end in grief and losses. The 21 EMA is the mean for the short term market while the 55 SMA is the mean for the intermediate term market.