many people who saw my previous idea (Easy swing trading part 1 and 2) ask me to tell them more about my method and how to use on 4h chart , it's more difficult and take more time than 1 day chart , but maybe people interest because more gain :) so i give you an example of my last trade,but before that ,quick analysis :
we are under a resistance composed of : MA 20 around 9360 MA 50 around 9420 horizontal resistance and the bottom of the ascending channel around 9480
support : Ma 100 : 9300 fibo 0.382 : 9220
indicator : MACD ; good no sell signal RSI : good around 48 and go up stochastic rsi : no good probably go down soon
trade example : buy signal : stochastic RSI : blue line cross violently the red line MACD : bounce and go up MA : bounce on the 150 MA (not on the chart) buy confirmation : MACD : blue line go up and cross red line
buy : 9000 stop : 9700 (under fibo 0.382 and last low ) in theory my stop never reached because i sell when indicator give me a signal only a big and quick crash can activate my stop. target : 9900 (just under last hight) (is not a real target because if i have no signal i don't sell ,or just a few part like 25 % , at the oposite if indicator give me signal before reach target i sell 25% 50 % or 100 % it depends on the strength of the signal...
ok for those who have seen my previous analysis (easy swing trading part1) maybe you want to know where is the 175 MA ? :) i told you guys , the method i gave you is a simplified version , i use with 4 h chart 3 MA (25,50,100) , but for more details you have to wait part 3 of Easy Swing Trading...