Tips for Successful Swing Trading

Here are some tips for successful swing trading:

Look for sharp and short price increases
Ensure the correct execution of trading signals in a bullish market
Look out for resistance level and wait for its testing. Else, look for resistance already tested and held on several occasions.
Focus on momentum indicators which indicate that a currency is overbought. You can use a few best momentum indicators to analyze the condition of the market. Look out for prices moving strongly towards support or resistance and confirm the turning of momentum. You can use stochastic indicator, a visual indicator, to confirm that the price momentum is indeed decreasing. When the market moves towards resistance, the stochastic lines will point up; when market moves down, the opposite applies.
Sell a currency when you see downturn and divergence in momentum indicators.
Set your target and bank your profit just above the key level. Waiting for long so as to hit the level may be risky, as it may eat into your profits. Determine the right time to sell and make profit by keeping a close eye on the market.

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