OANDA:GBPAUD   British Pound / Australian Dollar
Swing trading is a style of trading that attempts to capture short- to medium-term gains in a stock (or any financial instrument) over a period of a few days to several weeks. Swing traders primarily use technical analysis to look for trading opportunities. Key levels (horizontal support and resistance) are pillars of technical analysis because these are areas where a lot of trading action happens! A resistance level represents a price point that an asset has had trouble exceeding in the time period being considered. Resistance can visualized using different technical indicators rather than simply drawing a line connecting highs. How do you identify trends? The best way to identify trends, in my experience, is to use simple price action. Higher highs and higher lows signal an uptrend, while lower highs and lower lows represent a downtrend. These basic analytical skills synergize very well together, and is very beginner friendly. Sometimes with Trading we tend to overthink, and analyze. I have learned less is more, and I hope this setup benefits someone out there.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.