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Swingtrader

Seeking dips on GBP/CHFA bullish trend has developed on the daily chart. Prices have pulled back lower, yet support was found at the 50 retracement level and the cross now trades back above the 200-day MA. A bullish divergence has formed on the 4-hout chart, and price action appears to be corrective on this timeframe. Also note that the 2-year spread between GB-CH yields ahead of prices to suggest upwards pressure could be building on GBP/CHF. Given the bullish structure of the daily timeframe, pullbacks towards the monthly pivot point could be appealing for bullish setups, in anticipation of a move up to 1.14.
Long
by CityIndex
Seeking to fade into AUD/JPYA prominent bearish outside / engulfing day formed on Friday. Moreover, it failed to hold above the 200-day MA and closed the day back below the 100 handle. And its high almost perfectly respected the high-volume node (HVN) from the July high to August low. A bullish trend has developed on the 1-hour chart after the initial selloff found support around a 38.2% Fibonacci level. However, we're now seeking signs of weakness around the daily R1 pivot, or 10 handle resistance zone for a swing trade lower (given the strength of the bearish engulfing candle on Friday). The daily S1 and S2 pivot point around 99 and 98.50 respectively are downside targets for bears to consider. MS.
Short
by CityIndex
2
MarketBreakdown | USDCAD EURNZD, GBPCAD, GBPCHF Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ USDCAD daily time frame 🇺🇸🇨🇦 The pair is currently consolidating within a horizontal range on a daily. I am waiting for a breakout of a one of the boundaries of the range to confirm the future direction of the market. I think that the price may keep coiling before the FED rate decision on Wednesday. 2️⃣ EURNZD daily time frame 🇪🇺🇳🇿 Similarly to USDCAD, EURNZD is also in a deep consolidation. The pair trades in sideways for many days, perfectly respecting the same horizontal resistance and support. Our trigger and the signal will be its breakout. 3️⃣ GBPCAD daily time frame 🇬🇧🇨🇦 We see a violation of a significant daily horizontal resistance and a formation of a new year's high. It indicates a clear strength of the buyers and a highly probable further bullish continuation. I will look for a retest of a broken structure to buy from there. 4️⃣ GBPCHF daily time frame 🇬🇧🇨🇭 I see a confirmed breakout of a resistance line of a falling parallel channel. With a high probability, the price will go up after its retest. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
Why I Prefer Swing Trading Over Day Trading Introduction: When it comes to trading, the choice between day trading and swing trading can significantly impact your stress levels, decision-making, and overall success. In this article, I’ll explain why I choose swing trading over day trading, focusing on the benefits of a more relaxed approach that aligns better with my trading style and goals. 1. Day Trading Can Be Stressful Constant Monitoring: Day trading requires you to be glued to your screen, monitoring every market movement. This constant vigilance can lead to significant stress and fatigue, affecting both your physical and mental well-being. Emotional Pressure: The need to make rapid decisions can push traders into emotionally charged trades. The pressure to act quickly often results in mistakes, leading to losses that could have been avoided with more time and analysis. 2. Swing Trading Offers a More Relaxed Approach Less Time-Intensive: Swing trading allows you to analyze the market at a more leisurely pace. You don’t need to monitor every tick, giving you the freedom to balance trading with other life activities. Better Decision-Making: With swing trading, you have more time to evaluate market trends, conduct thorough analysis, and make informed decisions. This approach reduces the likelihood of making impulsive trades based on short-term market noise. 3. Swing Trading Aligns with Price Action Strategies Focus on Market Movements: Swing trading aligns well with price action trading, where the focus is on understanding market movements over days or weeks. This method allows you to identify and capitalize on significant trends without getting caught up in the daily fluctuations. Fewer Trades, More Thoughtful Entries: Swing traders make fewer trades, but each one is carefully planned and based on a broader market perspective. This thoughtful approach often leads to better long-term results. Conclusion: In conclusion, while day trading may appeal to those who thrive on the excitement and rapid pace of the markets, it can also lead to significant stress and emotional trading. Swing trading, on the other hand, offers a more balanced and thoughtful approach, allowing traders to focus on long-term success without the constant pressure of day trading. For these reasons, I choose to focus on swing trading, where I can maintain a healthier lifestyle and make more informed, less emotionally driven trading decisions. This approach emphasizes the importance of aligning your trading strategy with your lifestyle and psychological strengths, ultimately leading to better trading outcomes.
OANDA:XAUUSDEducation
by Mihai_Iacob
5