TW 09-09-2011 - AUDJPY (SELL) by eddardstark


Long or Short: Short
Entry Point: 82.50
Stop Loss: 84.50
Profit Target/s:77.50
Reward-to-risk Ratio: 2.5:1
Risk percentage:1%
Indicators used:Fibonacci
Rationale: I am expecting risk aversion to remain in the markets and send the AUD lower. The JPY is the best safe haven currency and the money should go to it during risk aversion. Also the XAU is falling and I read that the AUD falls when the XAU falls.
Trade adjustment: Add another position at 80.00 and move stop to 82.50.