Swing trading is a method used for the purchase/sale of cryptocurrencies, among other things, this method involves operations in periods of time between days, weeks or months, the idea of ​​operating as swing trading is to obtain the highest possible amount of profit for Trade, as an example: if I have invested $ 50, my goal is to trade to earn $ 100, so my trade will be profitable, this is because the time is very long and we need it to be worth the time we wait.

To perform this task I will use the ICP/USDT pair

What is your entry and exit strategy?

For my entry and exit strategy I will use a change in trend lines, and I will add an exit by time, this means that I will maintain my position for a certain time and I will be monitoring the time and the possible movements made by the indicators before exiting my position.

First we have to understand the trend lines, doing this in technical analysis is the most essential thing, the first thing we must know is that it is necessary more than 2 maximums and 2 minimums to be able to create a trend line. we have to bear in mind that: the more times there is a rebound in a trend line, the better it will be. To identify a 100% correct trend line is complicated, complicated, one of the best indications to determine a trend line is that you can look for the existence of a third maximum or minimum peak.

This is what makes a trend line relevant,we have to bear in mind that: the more times there is a rebound in a trend line, the better it will be.

In this photo I will try to show my entry into a long buy position, for about 16hrs, taking into account the 4hrs chart which is equivalent to 4hrs per candle. I will enter when the price approaches $ 126, and placing a stop limit to sell at $ 156, and an OCO at $ 130, by selling the amount of 0.65 ICP at $ 156, I would get the amount of $ 101.4 buying 0.65 ICP, at the price of $ 126, I will obtain a profit of $ 19.5, in my operation.

Analysis of multiple time frames.

To have a good swing strategy, we must analyze the situation very well, for that we use the time frames, the time frames for the most used swing trading are: within 4hrs within 1 day the frame of 1 week. Since our operations can take a maximum of a few weeks, the most correct thing is to take advantage of all that time, in which we will be with the open position.

Candlestick analysis and use of other relevant supporting indicators for your trading decision.

For swing trading I use the MA indicator, the RSI, and the FIBBONACCI method.

I am guided by the MA lines, to calculate the possible rebounds in my trend line, with the RSI, I verify that the market trend goes in the direction of the trend that I have predicted, I am still learning to use the fibonnacci method, I try to use the retracements to define the last drop to determine potential support and resistance to make a good entry and exit strategy.

In the candlestick analysis I use the follow-up of the hammer and the hanged man to determine if a trend continues, and for the change in trend I use the engulfing candles with this I can confirm my steps and exits.

Trade management (stop loss, trailing stop and take profit settings)

Following the topic of the task I will place a stop limit on binance to complete answer # 1. In the stop box, we add the amount which we want our sell order to activate, what it does is that when the currency reaches the amount we have chosen, which is $ 150, a new order is activated for the amount that I have placed, in this case $ 156.

The trailing stoploss, is the method of moving the stop loss, rather it is to make a dynamic stop loss, we can regulate the stop loss as the case may be, through this we can minimize our losses to the maximum, since when adjusting the stoploss every time it bounces.

The take profit consists of creating a sell order, to exit the operation with the maximum profit, it is the same as I have done in the stop limit.