Great Short oppurtunity on Facebook

FB
Great short Oppurtunity on Facebook

The well respected downtrend of resistance is being hit, we have a high chance of going down from here

The entry of the short will be $ 142.80-140
The stop loss will be at $ 151.70
The reason for this stop loss placement if because of the low potential of a upside breakout.

The reason of the stop loss is also because of the measured move of this Rising Wedge breakout, $151.11, that's why our stop loss will be slightly above this.

The risk/reward rate is 3.5 meaning that if this trade fails we lose 1 and if we win we will win 3.5

Targets:
Target 1: $135 (approx 4.5% profit)
Target 2: $130 (approx 8% profit)
Target 3: $125 (approx 12% profit)
Target 4: $120 (approx 16% profit)
Target 5: $115 (approx 19.5% profit)

I would recommend to take small profits at every level