TW] 07-05-2012 - EUR/USD (Short) by imtrader

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:

[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

Trade Adjustments:
Add another 1% once support breaks and move the stop on the initial position to 1.3060.

Note: This is a less aggressive trade of fedegmail’s short

Sorry but I think you’re wrong, it is completely different, you’re assuming that the support will be broken, I have the TP on support (1.3040)