AUD/JPY 4-hour
Long or Short: SHORT
Entry Point: 88.00
Stop Loss: 89.00
Profit Target/s: 87.00, 86.00, 85.00
Reward-to-risk Ratio: 1-1,2-2, 3-1
Risk percentage: 1% per position, 3 positions in total
Indicators: None
Trade Rationale:I see a long-term rising wedge near the important 88.00 level. I expect the pair to find resistance when risk aversion kicks in following developments in the euro zone crisis. But I will only enter WHEN A REVERSAL CANDLE FORMS.
Trade Adjustments: Move stop loss every 100 pip move in my favor to minimize risk