Closing and reversing
SwingPRO Trade Example
EURUSD | 2012/02/15 | 140 pips
Description: Here is a great example where we were looking to close and reverse if our rising support was broken. Both trades closed in the profit for 140 pips total. (ref# 35)
Wednesday, February 15th 2012 @ 6:46 UTC - Trade Setup: We are currently long from the resistance break yesterday (first blue line) with targets at 1.32 for 85 pips. Our stop-loss is trailing beneath the rising trend support (second blue line) - if that support is broken we will close our long and get short with targets at 20/20/25/25 90 pips.
Thursday, February 16th 2012 @ 8:01 UTC - Result: 140 pips 325 pip yesterday for swing trading as all the setups we were looking for across the five pairs were triggered with three (EU, AU and UChf) hitting all targets. ~140 from EU alone on our long and short swing trading. Here is a quick reminder of our trading setup from yesterday:Our stop-loss is trailing beneath the rising trend support (second blue line) - if that support is broken we will close our long and get short with targets at 20/20/25/25 90 pips.Both our long and short ended in some nice profit for us. Our long was closed when the rising trend support was broken (alert email sent to PRO users at 1.3169 at 8:01a UTC) for 50 pips, and that support break triggered our short which hit all targets for 90 pips (more if you kept it open).