Drawing a falling resistance
SwingPRO Trade Example
AUDUSD | 2012/02/27 | 80 pips
Description: This is a classic falling resistance in the midst of a nice, zig-zagging market. (ref# 76)
Monday, February 27th 2012 @ 14:08 UTC - Trade Setup: We are tracking a falling trend resistance at the moment and will get long on a resistance break with targets at 20/20/25/30 for 95 pips profit.
Tuesday, February 28th 2012 @ 6:55 UTC - Result: 80 pips We closed our long from yesterday at current price (80 pips profit). It got with a hair of hitting the final target for 95 pips profit, and while we are still short-term bullish we decided to take profit and focus on the next trade.