The EMA20 is a reference many people use, which is the main reason it often works. Having said that, these things sometimes work twice as in the chart you've shown us, then people notice, expect the same thing again which prevents it happening a third time. If everyone tries to use the same strategy, it can't work.
For someone new to trading and a self-described 'noob', you're certainly grasping things very well.
I'm not allowed to give recommendations and honestly wouldn't want to and don't suggest anyone take action based on what anyone else including Sdaji says, unless they fully understand it independently and happen to agree, but I will say I personally wouldn't use a stop loss at exact figures if I was going to at all (I don't use them and generally see them do more harm than good, but sure, in some cases they can be useful), and would generally go above or below technical targets depending on the situation and my interpretation. The only time I would use a stop loss would be if I already had an open trade, was expecting something big to happen and I then unexpectedly had some reason I couldn't get back to the computer for some time. Especially if you put your target right on a technical target, you can get stopped out while the market is very briefly spooked and by the time you realise what happened the share price is higher than before but oops, you sold out at a loss during the few minutes the market was spooked by something. I've seen friends burned in this way who now swear they'll never be tempted to use one again.
HappyPecker: Cheers, mate! Much appreciated
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