I am new to the stock market and am searching for a high win swing trading strategy. I am considering using weekly pivot points. Plotting the upcoming weekly pivot points and then trading them on the daily chart. Entering the stock once it has reached a support level, held it and then formed a green bar. The stop would be placed just below the current support level with the target being resistance level 1. I paper traded this strategy with great success. I would like your input. What do you think?
Swing Trade Strategy
It doesn't really matter what I think but IMO...
The close is more important than a green or red bar but if it worked for you than there you go.
You may want to add trendlines/channels to add time to your price based entries.
Watch out for tests for supply/demand where price moves below the pivot/trendline,
runs stops, only to move back up and close above the pivot/trendline.