[TW] 27-2-2012 Short EURUSD by Jabroni


[B]Long or Short:[/B] SHORT

[B]Entry Point:[/B] 1.3600

[B]Stop Loss[/B]: 1.3800

[B]Profit Target/s:[/B] 1.3000

[B]Reward-to-risk Ratio[/B]: 200 pips vs 600 pips (3:1)

[B]Risk percentage[/B]: 4%

[B]Indicators[/B]: Fibo (61.8%)

[B]Trade Rationale:[/B] expecting the long-term downtrend on EURUSD to stay intact, though i think there’s room for the pair to rise on the medium term. i see the 1.3600 handle as a potential turning point since it corresponds with the 61.8% fibo and price should intersect the falling trend line at around this area.

[B]Trade Adjustments:[/B] might exit trade early if i see price close convincingly above the falling trend line that i illlustrated

if i see 1.30 again, i will buy it again :8:

Good call Jabroni. Note on the recent down swing it found resistance around 134400 so it may go short @ 51% Fib after a bit of consolidation.