Hi Everyone
I’m looking to try some different swing trading strategies. I’ve developed my first strategy using the 4hr charts which I’m testing so not sure if it’s gonna be a winner or loser yet!
I was wondering if anyone would be able to share any of there strategies that I could test. I just want to have a look at trying a few different strategies to see which ones work best for me and tweak them accordingly.
Thank you in advance
There are two very obvious and old strategies I can suggest right away. One is trend-following, the other takes reversals.
Trend-following - Uptrend -
After a series of bars with higher highs and higher lows, look for a series of 3 consecutive bars with lower highs and lower lows. as long as the uptrend is not broken set a buy order just above the high of the 3rd bar. Set a stop-loss just below its low. If the buy order is not triggered and a 4th bar prints with lower high and lower low, just drag the order down to just above the high of the 4th bar and adjust the stop. Keep doing this until either the buy order is triggered or the uptrend is broken.
Reversals - Bullish -
Look for a bar which prints its close below the last 3 consecutive closes. Set a buy order just above the high of the bar which just closed. Set a stop-loss just below its low.
Thanks tommor, I’ll give these a test run.
In fact a stronger set-up for the Reversals pattern is to look for a bar with a close below at least the last 3 lows, rather than below the last 3 closes. Then carry on as above.