Short triggered at .50% fib. Looking at a 1:7 RR MINIMUM. Overall target is a 1:13 RR which is completely reasonable considering this trend looks exhausted.
-Trend Exhaustion
-Mean Reversion
-Daily Rejection
-4hr/1hr Symmetrical Triangle
-Bearish Territory (Zoom Out)
-Trend Exhaustion
-Mean Reversion
-Daily Rejection
-4hr/1hr Symmetrical Triangle
-Bearish Territory (Zoom Out)
Trade closed: stop reached:
As you can see, not every trade is a winner. This is why it is essential to keep money management and emotions in tact.
Comment:
Stop loss too tight in this scenario, have to give the trade more room to breathe.