[TW] 2012-08-06 Short EUR/JPY by Bijoymj

[Bijoymj]

Pair: EUR/JPY

Time frame: 4 Hour

Long or short: Short

Chart:

Entry Point: short at 97.25 (at resistance area)
Stop Loss: 98.00 (at Previous High)

Profit Target : 95.75 (at previous support lying on upward trend line)

Reward-to-risk Ratio: 2 : 1

Risk percentage: 2%

Trade rationale: A technical Set up. Shorting at solid resistance and aiming to previous support lying on upward trend line.

Trade adjustments: Bring SL to entry, after getting trade up by 75 pips

[sepramfx]

I'm having the same set up as well just that my TP is 95.00 which has served as support and resistance b4 plus the fact that its close to the mid trend line. Nice jobBijoymj

[JustinCredible]

This one could be a good one. The risk/reward is favourable

[topdogmutly]

Nice setup. I'm in on this one as well. Hope it works out.

[shelleylicia]

I like the risk/reward & the setup. I'm in