This strategy can be used for swing or intraday trading, but I am quicker to take profits on intraday trading.
Indicators
Stochastic MACD
RSI
Moving Average Cross - 8 MA
Price Action - candles, volume, and price
Time Frame
Daily
I will play the same on Weekly, Monthly, and even on shorter time frames like the 30 min or 4-hour
Strategy
(Bullish strategy; if shorting, reverse the information below - above changes to below)
Stochastic MACD Cross (below the -10 line)
Crosses above -10 can be entered for a smaller position as long as RSI > 50
RSI >50 for longs
Moving Average Cross - 8 MA (Close above)
Large green candle over a red candle; volume should be greater than previous candle
Exits
We hit our price target, 2:1 ratio
Learn to take profits at your targets or percentage
Sell off at least 80% of your position at your target and allow your winners to run until other stops are triggered; you can decide on your percentage to sell
Candle closes below the 20MA and RSI <50
Hard close on 8/50MA crossing
Adaptations
Once we have hit our target or 2:1 ratio
We remain in our trade as long as our candles close above the 8MA
Candle closes below the 21MA and RSI <50
Sell off at least 75% of your position at your target and allow your winners to run until other stops are triggered
Hard close on Remaining shares on 8/20MA crossing
You may use as little or as many strategies as you prefer
For your first strategy, you should be using the Daily or Higher time frame
What are your entry requirements?
What are your exit requirements or take profit zones?