Ascending Triangle Long
SwingPRO Trade Example
USDCHF | 2013/03/26 | 16 pips
Description: Here we have an ascending triangle after a nice bullish flag pole. We did not draw the bottom part of the pattern as we were only looking to get long in the forecasted direction of the ascending triangle pattern. (ref# 1418)
Tuesday, March 26th 2013 @ 5:56 UTC - Trade Setup: Current consolidation is taking the form of a bullish pennant and we will take the most probable direction of that pattern: long on a resistance break with a TP of 80 and a SL of 50.
Wednesday, March 27th 2013 @ 10:41 UTC - Result: 16 pips Our long was triggered just a few hours ago on the 9506 resistance break and is currently 16 pips in the profit, where we will close out. We have enough exposure on the dollar with our AU and GU shorts.