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Before we move any further in market phase, let's discuss first swing high and swing low.
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So this is just a terminology that you will often hear in trading community.
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So swing highs and swing lows represent the extremities of a certain move.
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A swing higher refers to a pick and price. A swing low refers to a drop in price.
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So in a not trending market, our higher high is our swing high and our higher low is our swing low.
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And in a down trending market, our swing low is our lower low and our lower high is our swing high.
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Okay. So let's have an example USDJPY for our time frame.
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Now when it comes to swing high and swing low, we can only identify this in hindsight, but it will come in handy when plotting support and resistance.
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So let's now identify the peak and the trough in this currency pair.
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So the obvious one here is first this one. So this is our swing swing high and then this one is swing low.
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Right. So trough a pick and then trough in price. Okay.
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And then we also have a pick in price right here.
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So this would be our swing higher or our higher high right.
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And then price moved to the downside creating a higher low and an obvious trough in price.
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So this would be our swing low. Okay. And then price rally to the upside creating a higher high.
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Okay. Once price moved to the downside. Okay.
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We can now identify this as a as our swing high. Okay.
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And then price price made a higher low.
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And now once price started to move to the upside, we can now identify this as our swing low. Okay.
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Another example euro USD for our time frame. So as we can see, we are in a down trending market. Okay.
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So our obvious swing low right here is this one. So this is our lower low or our swing low.
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And then price made a lower high. Now once price started to move to the downside, we can now identify this as our swing high.
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Okay. And then swing low trough in price.
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And then swing high pick in price. Okay. And then we have another one here swing low.
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And then we have another one here for swing high. All right. So again, swing high and swing lows are just terminologies that you will often hear in trading community.
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