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Forex Robots based on Swing Trading
Swing trading was described for the first time by George Douglas Taylor in “The Taylor Trading Technique” as the technique designed to receive profit from natural 3-5 day cycles of the market. “Swing trading” strategy uses cyclic dynamics of prices as a basis running beyond the time frames. In times of global market liquidity swing trader can find possibilities for realization of transactions in very different time frames from 5-minute charts to position trading for weeks. Swing trading became popular in the beginning of 1900. It is based on technical methodology of estimation of previous market swing duration to general technical market structure and prediction of the following swing. One of the main advantages of swing trading strategy is that an active scalper can get profit irrespective of the market moving direction. But it is also important to know how to “play correctly”, to see profit and to seek “a true trend”. To know how to “play correctly” is to know whether to buy or to sell, to leave or to hold. Transactions are based on “objective points”, which are simply the maximum and the minimum of the previous day. Movement between these two points identifies “the true trend”