Repeating a successful long trade
SwingPRO Trade Example
USDJPY | 2013/05/03 | 60 pips
Description: A few things to mention about this trade: we set the resistance well off the wicks by using a longer-term connection point to avoid false breaks. We also were reloading on the long flag pole (which we had already booked profit after) consolidation pattern. (ref# 1561)
Friday, May 3rd 2013 @ 6:18 UTC - Trade Setup: We will reload today and once again look to get long on a resistance break with a TP of 60 and a SL of 50. There's plenty of room for this trade to run on the 4h and dailies so we are not worried about overbought conditions.
Monday, May 6th 2013 @ 6:07 UTC - Result: 60 pips Our long was triggered on the 98.29 resistance break on Friday and pretty quickly hit all targets for 60 pips profit.