Why do we need to adjust the take profit?

Because the limit order entry is planned for the possible pinpoint bottom

If the price falls below the support level of the entry order, the take profit expectation should also be adjusted down

Otherwise, the next swing may not reach any target

Take JASMY in Figure 1 as an example. In fact, the initial planned entry was 0.02018, but it was too hard to fall, so it was changed to 0.02356 at the fib50 position. No one can escape when the meteorite comes, and it finally fell to 0.02018. That is the 618 position of Fibonacci.

Whether it is an upward trend or a downward trend, if it is supported by 382, ​​it means that the trend is strong and will continue to move strongly. The expected high point can be seen as 1.5-2 times of the previous swing, but if it is supported by 618, it means that the trend is beginning to weaken. At most, it can see 1.382 times of the previous swing. And it is very likely that it will not rush up at the previous swing high.

Another example is JUV in Figure 2, which is about to enter the stop loss price. The possibility of this trend reversal is relatively low. The most likely trend is sideways trading, not a V-shaped reversal. Therefore, you should usually close your position as soon as possible without loss or with a small profit, because the original analysis is invalid. You should re-plan.