[TW] 6-24-2011 EUR/USD (Long) by Pip Devil

EUR/USD, 1-hour

Long or Short: Short
Entry Point: 1.4300 (between 50 and 61.8% Fib, 100 EMA)
Stop Loss: 1.4350
Profit Target/s: 1.4150
Reward-to-risk Ratio: 3:1
Risk percentage: 1%
Indicators used: 100 EMA
Trade Rationale:

  • Overall euro weakness
  • Trend is down
  • Risk aversion
  • FOMC did not hint on further QE
  • Greece bailout still not yet a done deal

Trade Adjustments:
Basically a set and forget trade, but close early before the US NFP report if you choose to hold it for that long (probably will hit sl or pt before that though).

[See chart]

EDIT: Fixed. Thanks for the heads up!!!

I assume you mean short, not long… I think you might need to edit your post slightly :wink:

Well done, thanks!