I'm fully retired now. So I can also sleep in if I wish....often do with schizophrenic markets like these. But I still don't see the trade here on a regular Emni 5 min chart. Price never did touch the 22ema.
Look at this chart. It is faster than waiting for the 22ema to cross above the 50ema. Use a MACD 9-18-1 and when the line crosses the 0 line it is bullish trend above and bearish trend below. Compare it to the mov average crosses to see this. Also for a faster entry and exit when on this downtrend watch the "4EMA". It is the key here especially when going with the trend as described. See all the 5 minute bars "close below the 4ema" all the way down. The selloff is not finished until until you see the bars "close above the 4ema". To confirm a change from downtrend to uptrend you must see "two closes in a row above the 4ema". What that will tell you is that the price is going to rally back to the 22ema. It does not tell you more than that and doesn't imply prices are going to the moon. It does tell you price has reversed and is going to rally back to the 22ema home base. I have back tested this for a very long time. It can be used in all time frames as well including daily for stocks. And of course nothing is 100% all the time so a stop loss must always be in place with any trade. Check it out while you use your own system to see this. It is an eye opener. See this chart has just had one close above the 4ema. You need two in a row to confirm. You can always have one close above and a return to the downtrend. But even one is a heads up and if short I'd cover but I spook easy anyways. Better safe than sorry. But for a buy back up to the 22ema you need to see" two closes in a row " back over that 4ema. And closing on the line doesn't count. Price will close on one side of the 4ema and stretch away from the 22ema home base all the time. Watch how it does this as long as price is trending on an intra day chart. See the turn here now. Watch and it will tend to run up to the 22ema at least. Not exactly all the time but close to it or past it even. Check it out.