20230731 225405 0000 Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

Top 7 Bullish swing trade ideas (Stocks, crypto, forex) – August 2023

If you want to make some quick bucks or make some seed money as an investment to monetize your passion, try swing trading. This is the safest option out there in trading. Day trading and scalping requires more time, emotional energy, and money. In swing trading, once a month, just do your analysis, enter a trade, set stop loss and target, and then leave to pursue your passion. So now, let’s see some of the best swing trade ideas for this month!

STRATEGY :

The following is the most common strategy I use for swing trading.

Stock selection : Consolidation+Market structure breakout + Above 50 & 200 EMA, previous day bullish & volume breakout

Entry: Previous HH breakout and Previous candle breakout

Stop Loss : 1 ATR below previous high / swing

Target : SL * 1.5 and above.

For stop loss and target, either follow rules according to the strategy (mentioned below) or follow ATR (given in the image) along with your Risk Reward Ratio.

For more detailed strategy, check out this post on market structure.

Top 7 swing trade ideas

1. IRFC

IRFC 38.20 ▲ 8.99 BB BBW SWING Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 38.20

Technical analysis :

This stock IRFC has been consolidating till October 2023. It gave a breakout, a pullback and touches the resistance of 36.40 Rs, 3 times. Now it has broken the resistance with good volume and it is about to give a minimum of 10% returns.

2. BHAGYANAGAR INDIA

BHAGYANGR 66.70 ▲ 19.96 BB BBW SWING Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 66.70

Technical analysis :

This stock has given a breakout of a 2-year consolidation. It has also given a strong bullish candle with huge volume breakout.

3. BEML

BEML 2014.90 ▲ 10.96 BB BBW SWING Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 2014.90

Technical analysis :

This stock has been in a range since 2022 and it has given a bullish candle with huge volume.

4. IRCON INTERNATIONAL

IRCON 97.30 ▲ 4.51 BB BBW SWING Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 97.30

Technical analysis :

After a long consolidation, the stock gave a breakout near 50, went up and again gave a consolidation breakout.

5. DHANALAXMI BANK LTD

DHANBANK 22.30 ▲ 5.69 BB BBW SWING Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 22.30

Technical analysis :

After a consolidation breakout, it went up and agun consolidated. Now it is expected to move up till the resistance level of Rs.25.

6. BTC INR

image editor output image 1669464251 1690812076740 compress Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 2703451

Technical analysis :

Here in Bitcoin vs Indian rupees, the previous down trend has been broken and a pullback was formed at 2370000. It has gone up since then and touched the resistance at 2703451. If it crosses above that level, it will be a good bull run.

7. NZD/JPY

NZDJPY 88.483 ▲ 1.8 BB BBW SWING Top 7 Bullish swing trade ideas (Stocks, crypto, forex) - August 2023

CMP : 88.403

Technical analysis :

Nice consolidation breakout has happened with a pullback. This will be the perfect time for entry.

Resources

Track with me with this Public Notion Trading Journal & see the past 3 months performance.

About Post Author

Resources & Links

My Trading Youtube Channel

Investopedia – Reference

Tradingview – Charting Platform

Notion – Trading journal

Quizzes for Traders

Quick calculators for traders

Swing RRR calculator

Zerodha – Trading brokerage platform (India)

CoinDCX – Crypto Platform

Disclaimer

Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consider seeking professional advice before making any investment decisions. The information provided on this platform about digital entrepreneurship is based on the author’s experiences and industry knowledge. It should not be considered as financial, legal, or business advice. Please consult with experts in these fields before making business decisions. This blog may contain affiliate links, and we may earn a commission if you make a purchase through these links. Your support is appreciated.

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