EURAUD 4 hr
Long or Short: SHORT
Entry Point: 1.2450
Stop Loss: 1.2520 (swing high)
Profit Target/s: 1.2310
Reward-to-risk Ratio: 2:1
Risk percentage: 1%
Indicators: None except for Fibonacci and trend line
Trade rationale: The pairs is still on a downtrend. I think that the AUD will rally soon when the initial excitement of the EU Summit dies down because Australia is still better than the euro zone. I expect the pair to get rejected at the trendline and Fibonacci level.
Trade adjustments: I will move my stop to BE when I am up 70 pips.