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What do you guys think about this short entry ?
I understand that's it's shorting low in a TR and it's also a leg 2.
But would it be ok to short there betting on a 2nd leg of it's own ? Or is it just too low for that ?
That is a pretty bad short, You are selling on the bottom of TR a place where people would take profit,
also look at the risk to reward, I would put my stop loss above the 13th bar from the left and put my take profit at the low of the bear trend at the time of your short entry. The risk is like 3X or 4X my reward and you should win 90% or more of your trades to make money this way.
A much better sell is the 6th bar from you signal bar. Its closer to the stop loss(like 50% retracement of the recent bear BO), good signal bar.
hope this helps, happy trading.
