Forex Swing Trade Follow up post
About eleven days ago, I posted some current forex swing trade examples that were either setting up or already in progress.
I thought I would give you an update, beginning with our custom GBPJPY Counter Punch Trader 4 hour chart and tradeplan.
This special forex swing trade has been winning over 85% of its trades for the past 10 years, using a rolling look back. That means that it looks back 10 years from each new current day.
The above trade just finished earlier today. Next up is the USDCHF. Last week I showed a long trade that was setting up. That trade cancelled and instead, a short trade triggered. You can see the example below. This trade is still going.
The USDCHF Forex Swing Trade plan got short instead of long
- Short at 1.0106
- Stop at 1.0247
- T1; 1.0045 = 91 pips
- T2; .9959 = 147 pips
- T3; .9904 = 202 pips
- Trail the remainder
New Trade; Long the Forex Swing Trade; EURJPY
- Long at 123.94
- Stop at 121.97
- T1; 125.40
- T2; 126.23
- T3; 127.06
- If the price gets about 90% of the way to T1, we’ll over our stop to Break Even and begin trailing the Balance Line.