Short term trading strategy - "Practice makes a man perfect"
For short-term swing trading, start by identifying key support and resistance levels on the hourly chart. These levels will give you a broad view of potential price action zones. Once you have these levels marked, switch to a 5-minute chart to observe the price movements more closely. This will help you detect short-term trends and momentum.
To enhance your analysis, employ the 9 and 15 Exponential Moving Averages (EMAs). These EMAs will help you determine the direction of the trend and potential entry points. When the 9 EMA crosses above the 15 EMA, it can indicate a bullish trend, suggesting a buy opportunity. Conversely, when the 9 EMA crosses below the 15 EMA, it might signal a bearish trend, suggesting a sell opportunity.
Wait for the price to align with the trend momentum indicated by the EMAs and ensure it corresponds with your support and resistance levels. This strategy helps you enter trades with higher probability setups. Once the trend and momentum confirm your analysis, execute your trade confidently.
Regularly reassess your charts and EMAs to stay aligned with market movements and adjust your strategy as needed. By combining support and resistance analysis with EMA trend confirmation, you can effectively navigate short-term swing trading opportunities.
