Long or Short: Short
Entry Point: Enter only if support breaks next week (1.3060)
Stop Loss: 150 pips
Profit Target/s: 1.2650
Reward-to-risk Ratio: Possibly 2.7:1 (at least initially)
Risk percentage: 2%
Indicators used: None
Trade Rationale:
[ul]
[li]Lower highs indicate that the bears are in control of price
[/li][li]Price fell after forming a triple doji
[/li][li]Weak non-farm payrolls stoke risk aversion
[/li][/ul]
Trade Adjustments:
Add another 1% once support breaks and move the stop on the initial position to 1.3060.