[TW] 7-2-2012 EUR/AUD Short by mynameisfez


Long or Short: SHORT

Entry Point: 1.2450

Stop Loss: 1.2520 (swing high)

Profit Target/s: 1.2310

Reward-to-risk Ratio: 2:1

Risk percentage: 1%

Indicators: None except for Fibonacci and trend line

Trade rationale: The pairs is still on a downtrend. I think that the AUD will rally soon when the initial excitement of the EU Summit dies down because Australia is still better than the euro zone. I expect the pair to get rejected at the trendline and Fibonacci level.

Trade adjustments: I will move my stop to BE when I am up 70 pips.

I got in at 2425, its already dropping. Doubt it will rally as high as 2450. Nice idea anyway…

Great Job. I took it late but i gained 40%.