Forex chart patterns offer insight into swing traders’ sentiment of a market (are they long or short?) and also potential entry and exit points for swing trades.
Swing trading strategies capture significant, single moves in the market. These moves may last for anything from a day to several weeks.
Momentum trading is at the core of a swing trading strategy – momentum is the catalyst for price change. Without momentum, no swing trade will be profitable.
The Donchian Channel is a breakout indicator that only requires one input, price itself. Swing traders can use breakouts of support or resistance to capture short to medium-term profits.
Correct trading risk management is the single most important determinant of a swing trader’s long-term profitability. And the correct use of stop loss order and stop limit order is an essential part of the process.
The Average True Range is a technical indicator which measures risk and volatility by revealing the range of the asset for the period.
Traders know that there’s a massive pool of information available on the financial markets and forex is no exception.
When looking for profitable forex chart patterns, it’s a good idea to keep in mind one of the oldest sayings in trading – “the trend is your friend”.
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