The setup overview for EMA Rainbow Strategy is a daily collection of analyzes of potential trades based on this strategy. Detailed description of the strategy can be found in this link. The cycle will last exactly two weeks. After this period, on Saturday, October 7, I will publish a summary of the statistics of this strategy and will report whether or not during these two weeks tested strategy was profitable.

As announced earlier, on the same day, I will also present another strategy that I will test for another two weeks. In this way I will try to test as many investment strategies as possible to find the best and most effective.

Only three signals emerged today on AUDCAD.Two of them (first and last) proved to be effective, while the middle was fake. This means that trading at uTrader where rate of return is 74%, we could earn 0.48:1 on this instrument. The red arrows on the graph mark signal candle, while the colored rectangles show time lap from the opening until the option expires. According to the EMA Rainbow strategy, the expiry period of the option is three times longer than observed interval.

As many as five signals appeared on the AUDCHF today. It is also worth noting that only the last one turned out to be wrong, so thanks to a return rate of 76% we could earn so far on this instrument already 2.04:1.

Even more profitable we would be trading on AUDNZD, where the EMA Rainbow strategy generated 6 signals. Taking into account that only one of them turned out to be false and the broker uTrader offers for this instrument a return rate of 68%, we find that we could earn as much as 2.4:1.

Among the 5 signals that have so far appeared on EURAUD currency pair, only three turned out to be profitable. This means that with a return rate of 76%, we could only earn 0.28: 1 on this instrument, though still better a small profit than any loss.

I am aware that the above analyses depict historical set ups, but the whole cycle is supposed to:

  • show how and what signals on the chart you need to look for,
  • check if the EMA Rainbow strategy is profitable
  • make us familiar with the strategy assumptions

As I mentioned in the introduction, on Saturday, October 7, I will publish a report summarizing the statistics of this strategy and will show whether or not these two weeks where profitable. So far, the results of last 7 days in total seem to be  optimistic.

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