Simple swing trade strategy
This is based on the 45 minutes, which provides reliable trigger for trades, with the use of a stop loss. This Swing trade usually runs for about 1-2 days but of course that varies. Identify targets based on support and resistance as I have done in my previous posts. All elements identified on the chart must be confluent: the MACD and histogram (I prefer it as columns in tradingview) indicate possible trend reversal – this example it is bullish breakout. The heikin Ashi candle sequence indicates possible trend reversal. The 17 EMA dots are tightening (when zoomed out) and the 2-6 EMA have crossed and had a successful test with a green candle. The cross alone is not sufficient to take the trade, there needs to be a positive test of the EMA. I believe there are five elements that are confluent so that is enough to take the trade, with a stop loss:
1. Candle formation
2. EMA cross and test
3. 17 EMA tightening
4. Cross of Signal and MACD
5. Histogram cross of 0 line on MACD
6. Always confirm support and resistance-don't short support and long resistance.
Zoom out to see the 17 EMA Tighten, indicating something is up
1. Candle formation
2. EMA cross and test
3. 17 EMA tightening
4. Cross of Signal and MACD
5. Histogram cross of 0 line on MACD
6. Always confirm support and resistance-don't short support and long resistance.
Zoom out to see the 17 EMA Tighten, indicating something is up
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