WHY WE LONG HERE

- Price pulled back to the long-term EMA (EMA 200) after a strong bullish move and showed a clear reaction, indicating that the EMA 200 was acting as a dynamic support level.
- The short-term EMA remained above the medium-term EMA, and the medium-term EMA stayed above the long-term EMA, confirming that the overall bullish trend was still intact at the time of entry.
- After testing the EMA 200, a bullish confirmation candle formed, accompanied by a Buy signal (blue arrow), suggesting that the pullback was likely ending and buyers were stepping back in.
- The entry at 63,655 was taken immediately after the confirmation candle, targeting the nearby resistance at 64,700, while the stop loss at 62,700 was placed below the support zone and beneath the EMA 200 to limit risk if the bullish structure failed.

However, as the chart later showed, price broke below the EMA 200, and all three EMAs started sloping downward, confirming that the bullish structure had failed. As a result, the LONG setup was invalidated, highlighting the importance of following the stop loss when trading with the 3 EMA strategy.