Swing Trading - Using Market Side and Opening Range Filters

6月14日

Swing trading is a short-term strategy where traders aim to capitalise on small price movements within a financial instrument over a specific period. The goal is to capture gains from these "swings" in the market rather than focusing on long-term trends.

In this example, I am trading the GBP/JPY using the market side and the session opening range as filters to determine high probability trading direction:

Market Side: This helps to identify the overall trend or sentiment in the market.
Session Opening Range: This is the price range between the high and low during the initial period after the market opens. It is used to set reference points for potential entry and exit levels.

Here's a simple breakdown:

Below the Market Side and Opening Range: If the price is below both the market side indicator and the opening range, this signals a bearish sentiment, and you look for selling opportunities.

Above the Market Side and Opening Range: If the price is above both the market side indicator and the opening range, this indicates a bullish sentiment, and you look for buying opportunities.

I use the Charts247_WT Custom Indicator Candles for entries and exits, which provide specific signals to enter trades and exit existing positions. This combination of trend filters and entry signals helps improve your trades' accuracy and timing, aligning your actions with the broader market context.