Yesterday I was expecting a retracement to a higher fib level on the daily (50%) to assume the next step down to support. The 15min showed me a failed high from this zone and gave me permission to short with my stop just above the swing high -lowering my risk on a smaller time frame. The key is to wait for proof of your plan and watch for signs. I will move my stop loss to my entry again mitigating any risk of my money. I will be looking for the same profit target on the daily near the TL or a profit target.
Comment:
The retracement went as far as the 0.382 (not the 50%) at this level there was an overlapping fib on the daily and a good level of Resistance that had also become support.