Trading against the trend
SwingPRO Trade Example
USDCHF | 2013/06/28 | -53 pips
Description: Trading against the trend, even with a well establish S/R line, is always more aggressive than trading with the trend. Here you can see an aggressive short taken, well off the pips, on an establish support that hit full SL of -53 pips. (ref# 1734)
Friday, June 28th 2013 @ 8:08 UTC - Trade Setup: After the narrow false break price continued to move in the forecast direction, up, and is now sitting just above 9450. We have been tracking our aggressive rising support for a few weeks now and we will look to get short if a support break does occur, with a TP of 80 and a SL of 50. We are still short-term bullish on the pair, but if that support is broken it is a strong indicator that this latest bullish steam is dying out under 9500.
Monday, July 1st 2013 @ 21:32 UTC - Result: -53 pips Our short was triggered on the 94172 support break on Friday - which unfortunately fairly quickly hit our SL for a 52.8 pip loss.