lesson 32 - swing trade setups for the spot forex (slideshow)
DESCRIPTION
This lesson covers the situation where you look for a currency pair that is in a pretty strong intermediate or long term uptrend but has cycled down hard against the trend. Then you look to buy it as it resumes its uptrend. You are also looking for the opposite of this, a currency pair in a strong downtrend that cycles up against the trend. When a currency pair cycles against the trend it is “setting up” for a trade back in the direction of the trend. We will refer to these as “swing trade setups. It work for pairs trending in either direction.TRANSCRIPT
Lesson 32 Slideshow
This slide show illustrates examples of currency pairs that are trending
up, then they sell off to create a relative low. When they reverse back up on the smaller time frames this is
a safe entry point back into the trend. This method also works in
reverse for down trends.
Up Trend With Increasing Tops and Bottoms, Each Trough Is A Relative Low
Illustration of Large Trend Up (left) Smaller Time Frame Sell Off (right) and a Relative
Low Is Created
Illustration of Large Trend Up with Smaller Time Frame Sell Off, Point 2 is a Relative
Low and Entry Point
Large Trend Up on LeftSmaller Time Frame Sell Off, Point 3 is a
Relative Low reversal and Entry Point
CHF/JPY Larger Time Frame Up Trend
CHF/JPY Smaller Time Frame Sell Off
AUD/JPY Larger Time Frame Up Trend
AUD/JPY Smaller Time Frame Sell Off Plus Reversal Up
EUR/CAD Larger Time Frame Trend
EUR/CAD Smaller Time Frame Sell Off
EUR/CAD Smaller Time Frame Sell Off
EUR/AUD Larger Time Frame Trend
EUR/AUD Smaller Time Frame Sell Off and Reversal Back Up