2.TRADE IDEA FOR THIS WEEK : LONG EURAUD - UPDATED 21/02/2012--26/02/20-HALF SUCCESS

This week is difficult since we have many events(Greece - Eurogroup) that move very fast and may affect the currencies. Looking at the EURAUD pair i  see that the currency is still in a downtrend but a strong retracement may have started . I am ready to take  a long position with s/l the all time low (1.2120) . My entry will be 1.2300(60 pips lower tahn the week's closing) and take profit  at 1.2550. Order will be valid for the next 4 days! I will also place another order buy at the market's opening with a tight s/l at 1.2290 and t/p at 1.2450

This is a risky trade since i am taking a position against trend, but i am betting  that the risk aversion mentality which seems to be the case for this week will give the pair a strong boost .

Orders:  

1. EURAUD BUY @ 1.23, S/L 1.2120, T/P 1.2550
2. EURAUD BUY @ the market opening, S/L 1.2290, T/P 1.2450

UPDATE 21/02/2012 :  I have already stopped out in my first order however my second is still valid
UPDATE 26/02/2012:   Second order closed in profit late this week