Hello Trades,
We are looking at nasdaq which is currently downtrending. We are currently watching price get close to the trend line and the 50% - 61.8% Fibonacci retracement levels denoted by the red square.
TP1: close 50% of position and move sl to entry
TP2: close 25% of remaining position and move sl to TP1
TP3: final tp for remaining 25% of the position.
I will be looking for a 1:5 Risk to Reward ration to ensure enough space for the stop loss.