False break saves us 42 pips

SwingPRO Trade Example

USDCHF | 2013/06/20 | -8 pips

Description: Here is a good example of taking an aggressive long on a possible bullish trend change, with the false break detection closing out shortly after the open for a 7.9 pip loss (instead of a full 50 SL). (ref# 1704)

Thursday, June 20th 2013 @ 6:33 UTC - Trade Setup: Price rose sharply on the dollar strength, creating a bullish breakout opportunity. That rise has recently tapered off into a bullish pennant formation and we will look to get long on a resistance break of that pennant formation with a TP of 80 and a SL of 50.

Friday, June 21st 2013 @ 9:39 UTC - Result: -8 pips Our long was triggered @0.9327 on the resistance break yesterday but closed just a few minutes later on the false break alert (that saved our SL from being hit) for 7.9 pip loss.

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