Swing Trading Charting

[robertbanking]

Hello folks, hope you are having a good day.

I am learning more about swing trading i find it fascinating and very interesting. I am using certain screeners to find stocks that might be worthwhile for trading. I am trying to learn more about charting and looking for more information on this. Such as looking for certain candles in the charts and learning about drawing my own chart analysis, can anyone kindly advise me how i can learn more about this please or any advice you may kindly have to share?

Thank you for any support you can give. Have a great day. Stay healthy, stay happy!

 

[Tropico]

There is a lot of info on the web from sites like Investopedia, stock charts, etc., and even Wikipedia, you have probably already visited them. Some chart sites like investing.com may even highlight candle patterns on their charts at times. Candle patterns are not gospel and can be unreliable as often as not and there seems to be a name for every pattern you can see or imagine.

Just start drawing things like trend lines, channels, fib retracements, support/resistance lines etc. and look at indicators as well. Although indicators have limited reliability as well and there are no absolute winners. Try different time frames as well, like 1-minute, 5-minute, 15-minute, 1-hour, 2-hour, 4-hour, daily, weekly and monthly charts. The more charts you look at and draw, the better.

We are in modern times now with the big investment/trading houses having powerful servers with low latency connections using complex algorithms that cover every contingency. This is what you, and we, are up against when trading. Gone are the days of hand draw charts, based end of day data for Japanese rice sales.

Gain on other’s experiences and knowledge, but it is important to find your own methods. There is a place for swing trading which can be profitable but it can also lead to losses. Seeing a swing on candles or ohlc bars is risky and other confirmations or indications can help for a profitable trade, although they can lead to smaller gains if successful. Equally so fewer/smaller loses if unsuccessful.

Just a few of my thoughts that I hope may help.

Have a nice day.

 

[tech/a]

Some good observations by Tropico

Will put some ideas up over the weekend.

I like Divergence with pattern and bar recognition
Volume can also have a place along with Support and resistance.
One big hint I received many moons ago was there has to be something to
swing up or down from.
What we are looking for is an exhaustion.

 

[robertbanking]

Thank you very much Tropico and tech/a you are very amazing people. Thank you for the insight i will read up further on these topics. Thank you again for your support it means alot to me. You take care and hope you are having a nice weekend.