BTW GoldHunter, there are two possible ways to enter this trade. The stop I had in place is OK for a pending order on 5-0 trades, so a sell limit would've worked in this case. However, to be more conservative, I waited for resistance to present itself at the fib and entered on the next candle. This will result in fewer trades, but higher win percentage. Also, you can leverage more because a SL can be placed directly above the top of the previous candle.