Mastering Swing Trading using Market Fra
Hello everyone,
I'm happy to share some trading knowledge that I discovered a few years ago, this is my first post on Forex Factory and I have to thank the wonderful people for giving me the privilege to do this here.
chart:
Japanese candlesticks, horizontal lines, vertical lines and possibly zigzag indicators that will help you identify HH, LH, LH, LL (little or no indicators required)
system:
1. Identify the main trend on the higher time frame. If you needed to enter on H1 this would be Daily/H4, this is just an example. It is crucial to find a clear trend so that you can draw a trend line connecting points 1,2 and 3. When you establish the above on HTF, it is much easier to view LTF price action. You don't want your HTF to get congested and have too many spikes, not allowing your trend line (TL) to run cleanly.
2. When drawing trend lines, LTF entries can be taken. When price makes contact at the 1/2/3 points, what you have to watch for is the candle that breaks out of the TL and closes within the main trend. Assuming the trend is down and you sell or go short, you have a TL sloping from high to low, and the 1/2 point connects, price will retrace to another point called this #3, the candle needs to break out of this area and close within your structure to become a valid sell. Of course, the opposite applies to buy/long, screenshots and detailed description will be posted.
3. Buy/Sell on LTF only when HTF frame has been established. There's a lot more to it than meets the eye, and that's where the magic unfolds!
More coming soon…
4. Transaction management is as shown in the attached EURUSD screenshot. If you could use this calculation, you would achieve a 1:1 risk using the SL or ATR of the previous swing low.
With a target of 1:1, close 50% of the position and continue running until 3:1
I'm happy to share some trading knowledge that I discovered a few years ago, this is my first post on Forex Factory and I have to thank the wonderful people for giving me the privilege to do this here.
chart:
Japanese candlesticks, horizontal lines, vertical lines and possibly zigzag indicators that will help you identify HH, LH, LH, LL (little or no indicators required)
system:
1. Identify the main trend on the higher time frame. If you needed to enter on H1 this would be Daily/H4, this is just an example. It is crucial to find a clear trend so that you can draw a trend line connecting points 1,2 and 3. When you establish the above on HTF, it is much easier to view LTF price action. You don't want your HTF to get congested and have too many spikes, not allowing your trend line (TL) to run cleanly.
2. When drawing trend lines, LTF entries can be taken. When price makes contact at the 1/2/3 points, what you have to watch for is the candle that breaks out of the TL and closes within the main trend. Assuming the trend is down and you sell or go short, you have a TL sloping from high to low, and the 1/2 point connects, price will retrace to another point called this #3, the candle needs to break out of this area and close within your structure to become a valid sell. Of course, the opposite applies to buy/long, screenshots and detailed description will be posted.
3. Buy/Sell on LTF only when HTF frame has been established. There's a lot more to it than meets the eye, and that's where the magic unfolds!
More coming soon…
4. Transaction management is as shown in the attached EURUSD screenshot. If you could use this calculation, you would achieve a 1:1 risk using the SL or ATR of the previous swing low.
With a target of 1:1, close 50% of the position and continue running until 3:1
Attachment to original post (1)
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