The most common tool traders use to line up swing points at high probability market turning points is support and resistance. An example of ea trading robot forex this in an uptrend is marking the major support levels and xxl scalping forex trading system then looking for price to swing lower to jump aboard the trend.
Another example is marking your range support and resistance levels and waiting for when price moves into these key levels.
The example below shows price moving lower and into the range low support before rejecting and moving back higher on multiple occasions. Using swing points to trade trends can be incredibly powerful when done correctly. We do need to keep in mind that not all support and resistance levels hold, the same as the trend does not continue on forever. When using swing highs and lows you are trying to increase the odds in your favor of making winning trades, or managing your trades with more profits, not to make winning trades 100% of the time.
Ea trading robot forex Sure.Lower Highs and Lower Lows – Higher Highs and Higher Lows. An example of using a swing point in a trending market is when the market is trending lower. Once we have identified the trend, we can begin to look for high probability ea trading robot forex levels we think price may swing ea trading robot forex higher best buy sell signal indicator mt4 into and where we may be able to get short with the trend. These are the same areas discussed above, such as major resistance levels. When we have found these areas within the trend we can look for a swing high to form. The example below is from a recent post in the trade ideas section discussing the GBPJPY. You will notice on the daily chart price is making a solid trend lower with lower highs and ea trading robot forex lower lows. On the 4 hour chart price swings higher into a resistance level and forms a pin bar reversal. Whilst most traders are using swing points in trends, they can also be incredibly effective in ranging markets.
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Being able to correctly identify swing highs and lows is crucial to playing high probability reversal trade setups.
If you are entering a reversal setup at the wrong area, then you run the risk of entering when the big money is exiting. Very lastly; always use swing points with other price action clues like your major ea trading robot forex support and resistance levels and the overall price action story. $50,000 Demo Account MT4 and Tradestation Platform FCA Regulated. Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor robot trading forex ea and coach to thousands and has written for some of the biggest finance and trading sites in the world.