Singapore Swing Trading Strategy

Learn how to use the Singapore Swing Trading Strategy. Read the article and watch the video tutorial to trade this strategy.

Name : Singapore Swing Trading Strategy
Time Frame : 15 Minutes
Indicators : RSI (14), Forex Trend (20,20)
Strategy by : Analyst Navin Prithyani (forexwatchers.com)

Singapore Swing Trading Strategy

Singapore has grown over the years with it's ability to make the right decisions at the right time. So looking at this conservative giant, I created this forex strategy. It allows a trader to wait for the right time and capture a trend reversal.

Using this swing trading strategy

Load up any currency pair that has a low spread, preferably any of the majors, and set the trading time frame to 15 minutes. Then proceed to attached the Trendline file which you have downloaded and the Relative Strength Index with the settings mentioned above. Place 70 and 30 levels onto your RSI settings.

Buy Scenario

When the market is trending down / short, we need the RSI to cross below level 30. Wait for the close of a candle above the 2 Red Lines.  Then confirm that the RSI went from below level 30 to above 30 as showed in the image. At the opening of the next candle, a Long / Buy trade is opened. You can put the stops at the swing low of the previous candle or at any level based on your risk appetite.

Sell Scenario

Once the market is trending up / long, we need the RSI to cross above level 70. Wait for the close of a candle below the 2 Blue Lines.  Then confirm that the RSI went from above level 70 to below 70 as showed in the image. At the opening of the next candle, a Short / Sell trade is opened. The stops can be kept at the swing high of the previous candle or at any level based on your risk appetite.

Exit Strategies

Option 1
1:1 Risk to reward. If your stop is -12 pips your limit should be +12 pips.

Option 2
Open 2 lots. If your stop is at -10 pips, once your trades goes in your favor and you’re at +10 pips, close 1 lot and let the other one run. Exit at Support and Resistance levels.

Option 3
Exit at the nearest 50 or 00 level. These are psychological levels. (make sure your exit is at least the same number of pips as your stop, otherwise don't enter the trade)

Option 4 
Trailing Stop. Once in a trade, at the close of each candle, place your stop 1 pip below the low (if in a buy trade). Vice versa for sell trade.

Singapore Swing Trading Strategy Video Tutorial

Click on the link to see the article to learn how to install the Forex Trend Line Indicator for this strategy.

#UrbanForex - Be conscious of your trading!