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As the picture shows, we were in a big bull trend up and down, bears got a tight bear channel breaking trough the bull trend line and MA20, and put a strong bear trend bar below the MA20. So I sold at the red box right below the bear bar with decent size body, expecting that it was a LH MTR setup and get a swing down. But at the next bar my stop was hit and the price rocket up far above this TR. So my question is if it is a reasonable short? If not, what would be my mistake?
By the way, the chart is SPX 5min chart at 2026-02-06, left to the red line was before the opening time, so I took short at bar 13 expecting a swing down, don't know if there is any problem.
Very appreciate your patience to watch trough my question, it would be very helpful if anyone gives me an reasonable answer, thank you.
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It was a H&S, that is a reversal pattern, that usually fail.
It was a bar inside a triangle, so nothing “decided” since is a TR.
It could have been a DB from the bars before and then a continuation, since it was still a trend stair
If I were you I would have waited 10 more minutes because the market was about to open. And the liquidity that comes in at the open of the US market is so big that it often prints massive candles compared to the previous candles, and if you use tight stops the chances you get stopped out are greater.
Very appreciate you answer, I don't trade before open and try to make a profit after it. 👍
