EUR/USD, 4-hour
Chart:
Long or Short: Short
Entry Point: 1.3600
Stop Loss: 100 pips (should be above trend line)
Profit Target/s: 1.3350 (new lows)
Reward-to-risk Ratio: roughly 2.5:1
Risk percentage: 2%
Indicators used: None
Trade Rationale:
- Risk aversion due to very weak global growth prospects
- Fed announcement of Operation Twist
- Euro zone debt problems
- Technically, EUR/USD is on a downtrend
- Potential resistance at falling trend line + Fibo levels.
Trade Adjustments:
None
