High Probability Swing Trades and the Art of Chart Reading
Many swing traders make the mistake of putting on a new trade and then hope the market is in sync. This little mistake can cost you thousands of dollars a year, never mind the lost confidence when the trades don’t work.
Scanning through stock charts is the last step in the four-step process. Start with the market and then work your way down to which stocks. High probability swing trades are no accident.
Learn the step-by-step process that has stood the test of time and see which element you are missing…
When you read a Forex chart, keep in mind the direction of the chart is based on the first member of the pair, also called the base currency.
Therefore if the chart is moving up, the base currency is gaining versus the second or counter currency. For example the British Pound vs. the U.S.Dollar.
If these terms are new to you then read on for an exciting lesson!
Most mentors would shy away from answering this question for fear of being backed into a corner..
Not me. I have a clear and confident answer based on years of trading and real-world results.
Most indicators are simply a calculation of the base price it is derived from, therefore most of them are lagging indicators.
Who else wants to learn….The Ultimate Indicator?
Interested in learning one of my favorite strategies? In this lesson we discuss the tendency for the currency market to drift quietly at certain times of the trading day.
As I noticed this happening with some frequency I asked the question, “Is it possible to use this less obvious market tendency to my advantage and create a money making opportunity?”
After some research, back-testing and real-money trading the answer was yes!
Most Forex trading strategies with a foundation in technical analysis are based on a market tendency.
For example; the currency markets have a tendency to form strong trends, and many trading techniques seek to capitalize on this trait. Other strategies are based on a breakout from an opening range, which are likely to occur during times of high volume and liquidity.
Discover how I created a swing trading strategy from pure observation…