Swinging (Advanced Mode)

July 8, 2018

 

Swinging (Advanced Mode)

Swinging on a 1 hour and 4 hour and daily charts along with weekly charts

and monthly charts.

Every 4 hours on 4-hour time frame chart if you live in New York you go off

9am, 1pm, 5pm, 9pm, 1am, and 5am

Since I am on CST you go off 8am, 12pm, 4pm, 8pm, 12am, 4am for the

candles to close and start a new candle on the 4-hour chart time frame.

Let’s start with Indicators first.

Top Main Window – All Default Settings on Every Indicator I Use.

Moving Average – 10 SMA (Simple moving average)

Bollinger Bands – Pay attention to breakouts on upper and lower bands and

candle sticks patterns in between the Bands.

Parabolic SAR – dots above indicates downtrend, dots below indicates

uptrend. You can follow the dots every 4 hours on a 4hour timeframe chart.

Fractals – arrows point down (indicates uptrend) arrows pointing up (indicates

Bottom Window

RSI – Relative Strength Index which is High(Overbought) is 70 and

Low(Oversold) is 30

MACD – paying attention or curving up and down on higher time frames

Stochastic Oscillator – 100 is overbought and 0 is oversold

Momentum – follows RSI on direction and movements of candles.

Advancing into swing trading can be difficult first but first pre-analyzed in an

hour before the sessions opens such at New York, Tokyo and London.

There’s no point looking at Sydney sessions because you end paying high

spreads right away until the overlap with Tokyo opens. Make sure you pre-

determine the next trend to follow.

 

 

 

For example, if USDJPY is up trending in New York Sessions. Will it keep

up trending for Tokyo? Chances are more than likely.

Because New York sessions is the beginning of a new session, not London.

Always remember that New York sessions will start the new day since

everything revolves around the U.S. Markets and U.S. Dollar Index.

Ensure that when you are swinging for that long especially for 4-6 hours there

will always be retracements. Retracements on any trend can be unpredictable

so if you want to set a stop loss to be in profit you should do so.

If you don’t want to set stop loss, then have a mental stop or a certain price

target you want to hit to take profit.

I would shoot for profit taking versus shooting for the amount of pips I want

to catch.

Each session any currency pair trends can change due to red news or political

events in that session. (So, make sure you read up on the economic calendar.)

Don’t ever swing a trade before the red news hits or on holidays.

You should know the first hours of the sessions you want to swing and stack

positions on that currency pair. For example, it’s Tokyo Sessions and you are

on GBPJPY and EURJPY and USDJPY. These pairs are correlated together

most of the time unless their base currency is down in value against the Yen.

Now especially for the first 2 hours of each sessions you want to swing and

ride the trend for until the new sessions start, and you take profit in case the

new starts a trend reversal, in most cases it does. If we are swinging from

Tokyo to London Sessions, you have to anticipate red news and trend

reversals when Tokyo overlaps the first of London.

Even when London overlaps with New York Sessions. So, whatever went up

last night will end up falling down during the day. The longest trend I seen

nonstop is 2 sessions together almost 12 hours non-stop with small

retracements on any given currency pair. There is no way they would let any

currency pair go up or down forever, I have not seen that happen. Any

swinging requires retracements just like going up the mountain you go back

down and then you back up again.

 

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