Yea, I actually did that for my mage. He's 50 now with both Tailoring and Enchanting. I got alot of money off DEing greens I either made or found and didn't need. But I also invested alot of money into recipes for both professions. Spent alot on rare ones from instances I can/could never get. And for ones that were only world drops that would let me level up each profession that I could only find on the AH. Even today, the 16 slot Netherweave Bags sale fast on my server. So if you can make them yet, farm the cloth in Helfire Pen and make alot of those. They can generate a good income for you while you still pickup trash and money off the humanoids that drop the Netherweave Cloth. Once you get to Northrend, invest in making/selling the 20 Slot Frostweave Bags. Those damn things are goin for 100+ gold, sometimes even up in the 500g range on my server.
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