The trade setup got compromised since we now have a sell setup.
The double top and the decreasing RSI Exhaustion suggest that the price might move lower from the current level.
We have three options here:
- Close the trade and take the profit (very safe)
- Close the trade, take the profit and open a short trade (very aggressive, since we are above a major support)
- Keep the trade open but trading it safely
We choose the last option for a few reasons.
First of all, because our initial setup was excellent and we know from past experience that, once a similar setup appears, the chances that it eventually reaches the target are very high.
Second, because as explained above, the price is now trading above a major support which should put a lot of upward pressure. In this regard, it should help us reach the target or, at least, it will prevent the price from falling lower.
Lastly, because we are already at breakeven so, in the worst-case scenario, we will not lose any money!