A swing trader captures multi-day price moves, typically using daily or 4-hour charts. Positions last from two days to three weeks; targets range from 100 to 500 pips; stops are wider than day-trading stops but still proportionally reasonable. Because positions are held over multiple days, swap costs and overnight gap risk become relevant.
Swing trading suits traders who cannot (or do not want to) watch charts all day. It also suits pairs with well-defined technical structure and clear trends — GBP/USD, USD/JPY, and AUD/USD are traditional favourites.