Long or Short: Short
Entry Point: 61.8% Fib or 1.3700
Stop Loss: 1.3750 (above Fib)
Profit Target/s: 1.3550 (but scale out every 100 pips to be safe and move stop also)
Reward-to-risk Ratio: up to 3:1
Risk percentage: 2%
Indicators used: None
Trade Rationale:
Fundamental:
Risk aversion
Uncertainty surrounding euro zone debt crisis
Technical:
The recent move up seems to only be a retracement.
1.3700 is both a Fib level and a major level (two 0s)
