Long or Short: Short
Entry Point: 80.50 (sell-stop under rising trendline)
Stop Loss: 81.50
Profit Target/s: 79.50 / 76.50
Reward-to-risk Ratio: 1:1 / 4:1
Risk percentage: 0.5% per position
Indicators used: Fibonacci, Stoch, and MACD
Trade Rationale:
-resistance at 50% retracement level
-double top at 50% retracement level
-bearish divergence with MACD
-stoch approaching an exit from over-bought territory
Trade Adjustments: Move stop loss to breakeven when 1st profit target attained. Add another position @78.50 and move stop-loss to 1st profit target.