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.
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We lowered out trailing stop to 7000.
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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.
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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.