The price is moving down nicely, and we moved the stop loss to breakeven so that we’re now in a risk-free trade.
This means that, in the worst scenario, if the price comes back up, we’ll get out of the trade without losing any money.
But considering that there’s no major technical evidence for the price not to go significantly down, we also lowered a little bit the target so that the profit would now be 4.5x.
It is something we typically don’t do but this trade seems to offer the right opportunity to do so.
In any case, we’ll play it safe by lowering the breakeven level should that be required.