EURAUD
Long or Short: Short
Entry Point: Market (1.3780)
Stop Loss: 1.3880
Profit Target/s: 1.2980
Reward-to-risk Ratio: 8:1!!!
Risk percentage: 1%
Indicators used: Fibonacci levels
Trade Rationale: I think that the Europe’s debt problems will continue to send the EUR down. Australia’s economy is still very good, especially if you compare to the U.S. and t the Europe. So I think that the EUR/AUD will continue to trade lower.
Trade Adjustments: I will move my stop every 100 pips to my prevoius sell entry and add anotehr position every 100 pips.
This is my pick from the five for trade of the week. This looks good, I’m with you on this one.
Even though those unemployment numbers for AUD earlier in the month weren’t so good, they are definitely in much better shape than the US and Europe, no doubt about that.
I like it for a short as well, but there may be a bit of chop before it goes south, similar to the middle of August at this level.
I prefer an entry at below the low of Friday 23rd at 1.3717.
I favour this one with relative weakness on the Euro zone against Aussie Dollar. A tight SL and close monitoring for next week needed due to IMF, Euro zone ongoing dialogue on restoring confidence on Greek issue.
Decided to practice trade this one… it’s moving closer and closer to the stop loss…
Yeah it was, but that’s why moving the entry point down to the bottom of this recent range on the 4h is
probably smart…like alwales mentioned earlier. My order is still pending because that is what I put in my entry for. Maybe not till Europe opens will it go down if it’s going to.
why didn’t post the results? when you close the trade in loss or gain?
after all the entry point was the same but later and the idea of the trade was good…