Compare swings of similar importance
A swing high is a peak separating an advance from a pullback; a swing low is the trough separating a decline from a rebound. Tiny fluctuations and major turning points should not be mixed arbitrarily. State how a swing becomes recognizable, such as requiring two completed neighboring candles on each side.
That rule introduces a confirmation delay. A peak marked on Tuesday may only become recognizable after Thursday closes. Historical labels placed at Tuesday can therefore look more timely than the information actually available. Record both the turning-point date and the date your rule confirmed it.
What a break of the latest higher low means
Assume confirmed daily peaks progress from 104 to 110 dollars while confirmed troughs rise from 98 to 102. Both sequences are ascending. A subsequent completed close at 101 breaks the 102-dollar trough and damages that uptrend description. It does not by itself create a full downward sequence. A rebound that peaks at 107, followed by a confirmed trough below 101, would add the missing lower-high and lower-low evidence.
Different timeframes can tell different stories
A daily decline may be only a pullback within a weekly advance. Overlapping swings may justify an unclear or ranging classification instead of a forced directional label. Gaps, stock splits and changes in adjusted data can also distort comparisons. Use a consistent price series and do not redraw the swing rule to fit each example.
Separate structure from a trading decision
On an available chart of completed daily, weekly or monthly candles, list the last two confirmed peaks and troughs. Compare like with like, state the confirmation delay, and name the level that would weaken the current description. Then inspect the broader timeframe. A structural label provides context; it does not supply a complete plan for entry, exit, costs or the amount at risk.
Primary sources
Sources explain the mechanics and limitations; the editorial examples use invented numbers rather than market quotations.
Your next practical step
Compare confirmed peaks and troughs on an available completed-candle chart.
Open the first-chart instructions ↗