Our last swing trade we kept a very tight stop since we were hovering around the Daily 200 EMA . We are not gamblers we are traders so we kept it tight. This tight with a few added confirmations and a close below support levels we are giving much more space. Our current stop is at 7600 which gives us lots of room but also protects our profits.
We lowered out trailing stop to 7000.
As it came very close to our target of 5900 we have tightened our trailing stop to 6600 which would lock in a 25% profit.
Trade closed: stop reached:
As we said earlier we tightened our stop as it reached closer to 5900 and we got kicked out at 6600 with a nice profit. We are not going to long. We will wait for another short signal.