1-Hour Forex Swing Trading Strategy For EUR/USD

Swing trading may require that you hold your positions for several days at a time, hence a bit of patience is needed.

Some forex traders lack the dexterity to monitor their charts throughout the entire day, but a couple of hours analyzing the market is all that is require when swing trading.

The 1-Hour Forex Swing Trading Strategy For EUR/USD attempts to spot “swings” within a medium-term trend and it triggers a buy/sell signal only when there’s a high likelihood for success.

While holding onto swing positions, there are instances where things will not go in your favor instantly, considering the many short-term price fluctuations.

It is key for swing traders to stay calm, while trusting the setups delivered by the 1-Hour Forex Swing Trading Strategy.

Chart Setup

MetaTrader4 Indicators: RSIFilter.ex4 (Default Setting), MA_in_Color.ex4 (Inputs Parameter Modified; MAPeriod=36, Colors Modified; #0=MediumBlue, #1=MediumBlue, #2=MediumBlue), (T_S_R)-Signal Line.ex4 (Inputs Variable Modified; period=50)

Preferred Time Frame(s): 30-Minute, 1-Hour, 4-Hour

Recommended Trading Sessions: Any

Currency Pairs: EUR/USD

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Download the 1-Hour Forex Swing Trading Strategy For EUR/USD

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicators or chart patterns gets put on display:

  1. If the ascending medium blue line of the MA_in_Color Metatrader 4 forex indicator intersects the largely lime colored line section of the (T_S_R)-Signal Line MT4 forex indicator in a bottom up manner (see Fig. 1.0), price is said to be pushed higher i.e. a trigger to buy the stipulated forex pair.
  2. If the vertical orange bars of the RSIFilter Metatrader 4 forex indicator gets aligned above the zero signal level as shown on Fig. 1.0, price is said to be pressured to the upside, and as such a trigger to buy the selected currency pair is imminent.

Stop Loss for Buy Entry: Place stop loss below medium support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If the medium blue line of the MA_in_Color Metatrader 4 forex indicator intersects the red colored line section of the (T_S_R)-Signal Line MT4 forex indicator during a bullish trend as depicted on Fig. 1.0, an exit or take profit is duly advised.
  2. If the RSIFilter Metatrader 4 forex indicator pops up a sky blue vertical bar during the course of a bullish trend, a bearish reversal is likely i.e. an exit or take profit trigger.

Sell Entry Rules

Initiate a sell entry if the following holds true:

  1. If the descending medium blue line of the MA_in_Color Metatrader 4 forex indicator crosses the largely red colored line section of the (T_S_R)-Signal Line MT4 forex indicator in a top downward fashion as illustrated on Fig. 1.1, price is said to be dragged lower i.e. a trigger to sell the selected currency pair.
  2. If the vertical sky blue bars of the RSIFilter MT4 forex indicator gets aligned below the zero signal level as exemplified in Fig. 1.1, the general sentiment is said to be bearish, as such, a trigger to sell the forex pair of interest.

Stop Loss for Sell Entry: Place stop loss above medium resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following holds sway:

  1. If the medium blue line of the MA_in_Color Metatrader 4 custom forex indicator intersects the lime colored line section of the (T_S_R)-Signal Line MT4 forex indicator while a bearish trend is ongoing (refer to Fig. 1.1), an exit or take profit is duly recommended.
  2. If the RSIFilter Metatrader 4 forex indicator pops up an orange vertical bar while a bearish trend is running, a bullish reversal is said to be in the cards i.e. an exit or take profit trigger.

Sell Trade Example

Fig. 1.1

Free Download

Download the 1-Hour Forex Swing Trading Strategy For EUR/USD

About The Trading Indicators

The RSIFilter.ex4 is an oscillator that is built on the RSI indicator, offering traders clues as to when the market is overbought or oversold, along with possible trend direction.

The MA_in_Color.ex4 is an exponential moving average with period 14 and is a trend following indicator that adds more weight to the latest data.

The (T_S_R)-Signal Line.ex4 is a trend following indicator with an adjustable default period of 15.

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