Technical - Short Trade Fibonacci

For M5 @ -2 Magnification
1. Conditions
- At least 20 bars & 30 pips (5 horizontal squares)
- More than 135 degrees from horizontal (Less than 45 degrees for long trade)
- Price slows down as it approaches the retracement level
- Only trade in the direction of the overall trend determined from D1 & H1
- M1 for overbought/sold stochastics drop to neutral
2. Min 38.2% retracement level: Set stop-loss exit point at 50% retracement level (Must set stop-loss in case d/c or value jump), set profit target exit point at 5% retracement level.
3. If trade continues to short beyond profit target exit point of -5%, analyse the previous retracement of that trend with fibonacci extension to check if the trade would short to the 161.8%. If yes, shift stop-loss down to previous 0%.

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